Problem Set 2 EEP 145

# Problem Set 2 EEP 145 - EEP 145 Problem Set 2 Due Nov 8...

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EEP 145 Problem Set 2 Due Nov 8 Questions labelled as T/F should be marked as True or False. Your answer should be justifed in several sentences. On an exam, points will be awarded based in part on the reasoning behind your answers. 1. T/F The Value o± a Statistical Li±e (VSL) represents the average amount that a person would be willing and able to pay to avoid a ±atal incident. 2. T/F The VSL is likely to increase as incomes increase because sa±ety is a normal good. 3. T/F Davis (2004) uses a cancer cluster in a Nevada county to estimate the value o± a statistical case o± leukemia. Davis assumes that the e±±ect o± the cancer cluster on property values begins in 2000, when a large number o± newspaper articles appear about the cancer cluster. I± residents became aware o± the cancer cluster in 1998 or 1999, however, Davis ʼ s estimates o± the value o± a statistical case o± leukemia will be too large. 4.

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## This note was uploaded on 01/29/2011 for the course EVECON 145 taught by Professor Prof.anderson during the Spring '10 term at Berkeley.

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Problem Set 2 EEP 145 - EEP 145 Problem Set 2 Due Nov 8...

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