Economic Analysis of Social Issues 1st Edition by Alan Grant

Exercise 6

[Related to Application 2.3 on page 46] Everybody dies of something, but what will it be? Estimate me probability that your demisewill be caused by a bee sting, by lightning, by electricity, by drowning, or by a bicycle accident. Write down your numbers. Then refer to the National Safety Council's "Odds of Dying From" graphic (which can be found with a quick search at www.nsc.gov) and see how close your estimates were. Were your answers accurate? Were they off by more than a factor of 10 in either direction? Assuming that you take only what you believe to be cost-justified precautions, are you devoting too much care and worry to dying in any particular way? Too little?