The Value of Statistical Life

From FiveThirtyEight: Economists might not be able to say how much an individual person’s existence is worth, but they have figured out a way to calculate how much how much the average person is willing to pay to reduce the risk of death — which allows them to put a price tag on the collective […]

People, Suddenly Armed with Statistics

*asteroid approaches* SCIENTISTS: If we don’t stop this, it will destroy Earth. PEOPLE: Oh no. How many people has it killed so far? SCIENTISTS: None yet. PEOPLE, SUDDENLY ARMED WITH STATISTICS: Why, that’s fewer than traffic accidents! Fewer than vending machines! Fewer than — Ben Orlin (@benorlin) March 28, 2020