What would be the value of life then? I’ll save you the answer: no matter how big the number you say, someone else will say bigger. Until it becomes priceless, which is the answer.
However death and accidental death isn’t always avoidable. And when we pin the fault on someone we cannot expect to say “priceless” is what they owe the victim’s family. So we assign an amount of money or time that hurts, and call it good.
Doesn’t mean life is worth that. And saying so doesn’t help anyone.
Sure but even looking a only the financial produce of one person for a family dwarfs the comical 23k here. And that’s not even looking at the emotional side of things. 23k is straight insulting imho.
Two people were killed, so you're really talking 11.5k.
That's life insurances job, this would be on top of life insurance, and is more about where the money comes than where it is going.
So, it is interesting and egregious that the driver needs only pay $23K and Tesla pays nothing at all!
So according to this, the DoT values a life at $12.5M in 2022? I’m curious about their methodology.
You look at different jobs, how high the risk of dying is and how much they pay, and work out from that how much more pay people demand for say a 1% risk increase. Then you scale that up to 100% risk.
So if you were to work an average job no one has ever survived, and you died on the day you retire, you would've earned those 12mil
Huh that’s kinda neat. Thanks!
True. But what if Tesla has to pay a billion for producing software that runs people over? They probably would not have beta software on the road.
What would be the value of life then? I’ll save you the answer: no matter how big the number you say, someone else will say bigger. Until it becomes priceless, which is the answer.
However death and accidental death isn’t always avoidable. And when we pin the fault on someone we cannot expect to say “priceless” is what they owe the victim’s family. So we assign an amount of money or time that hurts, and call it good.
Doesn’t mean life is worth that. And saying so doesn’t help anyone.
Sure but even looking a only the financial produce of one person for a family dwarfs the comical 23k here. And that’s not even looking at the emotional side of things. 23k is straight insulting imho.
Two people were killed, so you're really talking 11.5k.
That's life insurances job, this would be on top of life insurance, and is more about where the money comes than where it is going.
The U.S. uses the value of statistical life VSL. Here are the numbers from the Department of Transportation over the last 10 years or so.
So, it is interesting and egregious that the driver needs only pay $23K and Tesla pays nothing at all!
So according to this, the DoT values a life at $12.5M in 2022? I’m curious about their methodology.
You look at different jobs, how high the risk of dying is and how much they pay, and work out from that how much more pay people demand for say a 1% risk increase. Then you scale that up to 100% risk.
So if you were to work an average job no one has ever survived, and you died on the day you retire, you would've earned those 12mil
Huh that’s kinda neat. Thanks!
True. But what if Tesla has to pay a billion for producing software that runs people over? They probably would not have beta software on the road.