If a person were willing to pay $20 to reduce her risk of dying from 12/100,000 to 6/100,000, what is her implied value of life?

Question

anonymous · Answer

I'm not sure what topic of economics you're studying, but if it's utility, remember that marginal utility is very different from total utility.  Just because someone doesn't place much value on a 6/100000 chance of not dying is very different than the total utility they place on their life.