[emarsden]

> However, models of "value of life vs. other-thing" are almost always useless. > Why? Because you don't care about that question. You care about other questions.

The “value of a statistical life” (or to use a better term, “value of a prevented fatality”), is weighed against other things in a large number of public policy choices. For example: environmental pollution, biodiversity, quality of landscapes, noise pollution, economic activity. It’s also important to aim for reasonable levels of prevention of different risk categories: food safety, road safety, air transport safety, medical safety in hospitals, industrial safety, etc. If public policy (via regulatory obligations for instance) uses very different implicit values for a prevented fatality, it means that more statistical lives could have been saved by allocating prevention effort in a different way.