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Tesla Motors chief executive Elon Musk said on Sunday the carmaker was updating its semi-autonomous driving system Autopilot with new limits on hands-off driving that probably would have prevented a fatality in May.
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It is likely that risk analysts consider the numbers at an acceptably low level: the Department for Transport puts the value of preventing a fatality at about £1.96m (based on 2014 figures adjusted for inflation).
This paper investigates the perceived differences in the value of preventing a fatality in urban vs. rural areas.
However, this has to be scaled to the general population in order to be able to be translated into a meaningful measure of money to be spent to prevent a fatality.
A recent overview of the topic of measuring the value of preventing a fatality can be found in Andersson and Treich [2], where various alternative approaches to estimate the social value of saving a life are presented (e.g. the human capital and annuities approach and the use of the marginal rate of substitution between risk and cost).
For example, the value of preventing a fatality (VPF) has been calculated by estimating the compensating differentials for on-the-job risk exposure in labour markets, or the amount that people are willing to pay for products that reduce risks, such as for automobiles and fire alarms [23].
Naloxone, also known as Narcan, is available with a prescription and can be administered to reverse an opioid or heroin overdose -- potentially preventing a fatality.
We will include studies reporting effectiveness data about interventions delivered to drug users in order to prevent a fatality from a future overdose in the community.
The Value of Preventing a Fatality, as the name suggests is how much individuals are willing to pay for reducing the risk of dying from a given environmental hazard.
COI: cost of illness; EC: European Commission; EU: European Union; PAP: population attributable proportion; RR: relative risk; VPF: value of preventing a fatality; WPT willingness to pay; WI: waste index The authors declare that they have no competing interests.
Due to the uncertainty about the time frame of the benefits arising from reclamation, the latency of the effects of toxic waste on human health and the lack of context specific estimates of the Value of Preventing a Fatality (VPF), extensive sensitivity analyses are performed.
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CEO of Professional Science Editing for Scientists @ prosciediting.com