US and UK on Value of a Statistical Life

Fat Finger UK asked their panel the same question we did here in the US: What value should society be willing to pay in increased regulation in order to save a life. The results indicate a lack of consensus in the US, with no clear peak, and in fact quite a few on each extreme with 20% saying zero and 10% saying $100mm or more.

Whereas in the UK there are very few are on each extreme, and a consensus around $300k-$500k.

 

Meanwhile, the UK and US governments themselves are in relative agreement with each other, if not their populations. Numbers derived from different regulations vary, but indications are the US government places the value at about $9.5mm per life on average, and the UK government around $7mm.

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