Question

You are trying to decide where to go on vacation. In country A, your risk of death is 1 in 10,000, and you would pay $6,000 to go on that vacation. In country B, your risk if death is 1 in 20,000, and you would pay $9,000 to go on that vacation. Supposing that you are indifferent between these two destinations except for the risk of death, what does your willingness to pay for these two vacations tell you about how much you value your life?

Answer 1

Answer:

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