Volume 40, May 2005ECORAD 2004
|Page(s)||S973 - S979|
|Published online||17 June 2005|
A risk related value of spend for saving a statistical life
Enviros, The Shore, Leith, Edinburgh EH6 6RA, UK e-mail: firstname.lastname@example.org; email@example.com
2 University of Manchester Environment Centre, Oxford Road, Manchester M13 9PL, UK e-mail firstname.lastname@example.org
3 British Nuclear Fuels plc, 1100 Daresbury Park, Daresbury, Warrington WA4 4GB, UK e-mail email@example.com
A risk related Value of Spend for Saving a Statistical Life (VSSSL) is proposed for cost-benefit studies across the power generation sector, and the nuclear industry in particular. An upper bound on VSSSL is set based on the UK government standard of around £1M or, in particular circumstances, £2M and the observation that excessive spend (probably of the order of more than £5M per statistical life) will cost lives. Above a risk of 10-3 a-1 it is assumed that VSSSL approaches a value around £2M (broad range £1M to £5M). At risks around 10-6 a-1 it is proposed that an appropriate VSSSL lies at £0.5M (range £0.25M to £1M). Where risks to the individual fall to the order of 10-9 a-1, or less, a low residual VSSSL of £0.01M is applied. A practical example is explored with respect to radiological protection where a total collective dose determination is disaggregated to resolve broad bands of individual exposure, and hence risk. Where collective doses are dominated by individual doses no more than a few μSv, the detriment arising from a manSv can be valued at about £15k to £60k, which can have a major effect on cost-benefit approaches to spend decisions.
© EDP Sciences, 2005
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