Episode 190: What the Supreme Court Got Right
Words & Numbers
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Introduction
Economists pretty much ignore what people say they want, because people almost always say they want things that they really don't. Professors see this every time exams roll around. Many people become quite irate when economists put a dollar value on people's lives. If you choose not to buy the SUV because it's more expensive, you've just revealed that you believe your life is worth less than $80 million. In 2018, there were 69 driver and passenger deaths among every 1 million cars, but only 32 driver and passenger Deaths among every 1million SUVs.
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