2004
DOI: 10.1088/0952-4746/24/1/004
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The derivation and application of a risk related value of the spend for saving a statistical life

Abstract: The concept of a risk related value of the spend for saving a statistical life (VSSSL) is advanced for use in cost-benefit studies across the power generation sector, and the nuclear industry in particular. For illustrative purposes, a best estimate VSSSL is set based on HSE guidance at 2 M pounds. Above a risk of 10(-3) y(-1) it is assumed that the VSSSL may approach this maximum sustainable value. As the risk reduces so does the VSSSL. At a risk level of 10(-6) y(-1) a VSSSL of 0.5 M pounds is applied. For r… Show more

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Cited by 5 publications
(3 citation statements)
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“…Parallel work (Jackson et al 2004) argues the case for varying the spend justifiable to save a life, according to the levels of individual risk at which the assessed detriment in terms of 'statistical deaths' is accumulated.…”
Section: General Considerationsmentioning
confidence: 99%
See 1 more Smart Citation
“…Parallel work (Jackson et al 2004) argues the case for varying the spend justifiable to save a life, according to the levels of individual risk at which the assessed detriment in terms of 'statistical deaths' is accumulated.…”
Section: General Considerationsmentioning
confidence: 99%
“…A secondary aim of this study has been to explore the practical implications of the argument that the monetary value of the detriment associated with collective dose should reduce with decreasing levels of individual dose or risk (Jackson et al 2004, NRPB 1993, based upon the results of disaggregating both the 'first pass' and 'global circulation' components of collective dose from the discharge scenarios considered.…”
Section: Introductionmentioning
confidence: 99%
“…Jackson et al [2] have proposed that an individual risk related value of spend for saving a statistical life (VSSSL) is used for cost-benefit studies across the power generation sector, and the nuclear industry in particular. An upper bound on VSSSL is set based on the observation that excessive spend (probably of the order of more than £5 M per statistical life) will actually cost lives.…”
Section: Dealing With the Collective Dose Issuementioning
confidence: 99%