title: The derivation and application of a risk related value of the spend for saving a statistical life.
abstract: The concept of a risk related value of the spend for saving a statistical life (VSSSL) is advanced for use in cost-benefit studies across the power generation sector, and the nuclear industry in particular. For illustrative purposes, a best estimate VSSSL is set based on HSE guidance at 2 M pounds. Above a risk of 10(-3) y(-1) it is assumed that the VSSSL may approach this maximum sustainable value. As the risk reduces so does the VSSSL. At a risk level of 10(-6) y(-1) a VSSSL of 0.5 M pounds is applied. For risks below 10(-9) y(-1) the value of further risk reduction approaches zero, although a nominal VSSSL of 10 k pounds is applied as a pragmatic way forward in this study. The implications of adopting this concept as an aid to decision making in determining the spend on radiological dose reduction measures are illustrated through a worked example with a banded approach to estimating collective dose.
authors.affiliation: Enviros, The Shore, Leith, Edinburgh EH6 6RA, UK. Duncan.Jackson@enviros.com
authors.forename: D
authors.initials: D
authors.lastname: Jackson
authors.forename: D
authors.initials: D
authors.lastname: Stone
authors.forename: G G
authors.initials: GG
authors.lastname: Butler
authors.forename: G
authors.initials: G
authors.lastname: McGlynn
mesh_terms: D003362:Cost-Benefit Analysis; D004739:England; D006801:Humans; D009688:Nuclear Reactors; D011835:Radiation Protection / Q000191:economics*; D018570:Risk Assessment; D026712:Value of Life / Q000191:economics*