Establishing a Monetary Value for Lives Saved : Issues and Controversies *

@inproceedings{Abelson1996EstablishingAM,
  title={Establishing a Monetary Value for Lives Saved : Issues and Controversies *},
  author={Peter Abelson},
  year={1996}
}
In Australia we spend about one-sixth of GDP to protect life and health in one way or another. This is a substantial diversion of resources away from other goods. Accordingly we would like to know whether this level of expenditure on health and safety is appropriate or whether it is too large or small. To assess such issues, quantitative measures of the value of life and health, and of safety, are needed. However most public agencies in Australia (as in most other countries) have only… CONTINUE READING

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