More Evidence On Smoke Detector Effectiveness And The Value Of Saving A Life
Abstract
Economic models of the fire fatality rate give estimates of smoke detector effectiveness. These estimates are much smaller than those generally accepted. Reasonable interpretation of these estimates, combined with the cost of a smoke detector and the risk of a fire death, places the smoke detector-based value of life saving in a range of $ 1.41 to $ 2.487 million 1986 dollars. The more generally accepted results of other studies of the value of life saving fall in a range of $ 1.6 to $ 8.5 million 1986 dollars. Smoke detector market data, along with effectiveness estimates from economic models, may provide a unique opportunity to estimate the value of life saving. © 1991 Kluwer Academic Publishers.
Recommended Citation
Garbacz, C. (1991). More Evidence On Smoke Detector Effectiveness And The Value Of Saving A Life. Population Research and Policy Review, 10(3), pp. 273-287. Springer.
The definitive version is available at https://doi.org/10.1007/BF00141954
Department(s)
Economics
International Standard Serial Number (ISSN)
1573-7829; 0167-5923
Document Type
Article - Journal
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2023 Springer, All rights reserved.
Publication Date
01 Jan 1991
