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Measurement of parameters to value human life extension
Philip Thomas - Universität Stockholm
Life expectancy is a well-documented and regularly estimated variable that can form the basis of a rigorous safety calculus.
The J-value method uses measured, economic and actuarial data to provide an evaluation of the human life extension achieved by a safety scheme that is wholly objective and fully transparent.
The J-value method offers the possibility of consistency in safety decision making.
Keywords: Papers 2009, Industry, Research & Development (R&D) ...
Erstellt: 27.03.2012 17:43
Video: An absolute scale for measuring the utility of money
Philip Thomas - City University London
Motivation and importance:
The utility of money is used to
judge premia in the insurance industry
– "The very existence of insurers can be explained by way of the expected utility model"
Modern Actuarial Theory, Kaas et al.
prioritise public spending schemes
judge how much to spend on protection systems e.g. for nuclear reactors
Keywords: Videos 2010, Industry, Research & Development (R&D)
Erstellt: 03.10.2010 21:23