General rule on the costs of regualtion: Every $15 mil. decline in wealth leads to loss of 1statistical life.
See Lutter, Morall, and Viscusi Economic Inquiry, Volume 37, Issue 4, pp. 599-608 >From Abstract: "Using new empirical estimates for the income elasticity of many of the most consequential risk-related behaviors, our results imply that a $15 million decrease in income is associated with the loss of an additional statistical life. Regulations that cost more than $15 million per expected life saved will have counterproductive effects on individual mortality." JC PS- Good to see you around DeBacker. _________________________ John-Charles Bradbury, Ph.D. Department of Economics The University of the South 735 University Ave. Sewanee, TN 37383 -1000 Phone: (931) 598-1721 Fax: (931) 598-1145 E-mail: [EMAIL PROTECTED] ----- Original Message ----- From: "Jason DeBacker" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Wednesday, November 28, 2001 2:51 PM Subject: Re: odds and terrorism > One could also argue that the current bills being considered for airport > security are killing people. More bags scanned, more security workers, and > higher salaries for them will result in higher ticket prices. This raises > the cost of flying and thus more people drive on their vacations- a much > riskier form of travel... > > > Jason DeBacker > > ----- Original Message ----- > From: "Alex Tabarrok" <[EMAIL PROTECTED]> > To: <[EMAIL PROTECTED]> > Sent: Wednesday, November 28, 2001 9:40 AM > Subject: odds and terrorism > > > > Here is a nice article on the odds of various events and terrorist > > related odds. It's familiar material to this audience but might make a > > good discussion item in a class. > > > > Best > > > > Alex > > > > > > http://www.washingtonpost.com/wp-dyn/articles/A7812-2001Nov23.html > > -- > > Dr. Alexander Tabarrok > > Vice President and Director of Research > > The Independent Institute > > 100 Swan Way > > Oakland, CA, 94621-1428 > > Tel. 510-632-1366, FAX: 510-568-6040 > > Email: [EMAIL PROTECTED] > > > >
