To Estimate the Value of a Statistical Life,economists Sometimes Ask

question 47

Multiple Choice

To estimate the value of a statistical life,economists sometimes ask people how much they would be willing to pay to reduce their risk of death by a small amount.This method of determining the value of a statistical life is known as

• A) revealed preference.
• B) stated preference.
• C) the actuarial method.
• D) the survey method.

---

Definitions:

Behaviorism

A theory of learning based on the idea that all behaviors are acquired through conditioning and interactions with the environment, emphasizing observable behaviors over internal phenomena like thoughts and feelings.

Cognitive Neuroscience

The scientific field that is concerned with the study of the biological processes and aspects that underlie cognition, with a specific focus on the neural connections in the brain which are involved in mental processes.

Long-Term Interests

Enduring passions or enthusiasms in particular subjects or activities.

Short-Term Pleasures

Temporary gratifications that result in immediate joy or satisfaction.