A Procedure for Determining Benefits of Lifesaving for Coast Guard Search and Rescue Programs.
NAVAL POSTGRADUATE SCHOOL MONTEREY CA
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A procedure is developed that places a value on Coast Guard efforts in lifesaving. The value is obtained for use in cost-benefit analysis of new programs. The procedure derives a dollar value for lifesaving by examining the potential changes in risk levels that are introduced by new Coast Guard programs. This value is the sum of three separate components. The first two components are derived by the use of accounting methods and encompass the productivity and external losses brought on by the death of an individual. The third component is the value that an individual places upon his own life given a change in risk levels for a particular activity. This value is computed using willingness to pay procedures which utilize subjective measures of risk change values through interview techniques. These three components are combined and then applied to the Coast Guard problem of valuing changes in risk in the marine environment. Author
- Economics and Cost Analysis
- Escape, Rescue and Survival