Objective
Teachers will be able to:
– Show how individuals, firms and governments use implicit valuations.
– Show how to evaluate government decisions using the concept of a statistical life.
Standards
In this economics webinar, discuss how policymakers and private interests make decisions based on outcomes of live and death.
Description
How much is life actually worth? Economists have used a variety of methods to arrive at an answer.
This webinar introduces participants to how the value of a human life is used to evaluate policies in a wide variety of areas— from car safety features to dealing with the COVID-19 pandemic.