['While', 'different', 'reunences', 'may', 'justify', 'the', 'use', 'of', 'different', 'valuations', 'of', 'lives,', 'there', 'appears', 'to', 'be', 'a', 'more', 'troublesome', 'divergence', 'among', 'agencies', 'in', 'the', 'effort', 'expended', 'to', 'derive', 'meaningful', 'figures.', 'Some', 'agencies', '--', 'notably', 'EPA’', 'and', 'the', 'Federal', 'Highway', 'Administration®', '--', 'have', 'commissioned', 'extensive', 'studies', 'that', 'seek', 'to', 'draw', 'on', 'and', 'expand', 'existing', 'knowledge', 'about', 'life', 'valuation,', 'our', 'research', 'reveals', 'less', 'intense', 'documentation', 'efforts', 'at', 'the', 'vast', 'majority', 'of', 'agencies.', 'Some', 'agencies', 'appear', 'willing', 'to', 'accept', 'a', 'figure,', 'notwithstanding', 'the', 'absence', 'of', 'any', 'independent', 'evaluation', 'of', 'its', 'veracity', 'or', 'its', 'application', 'to', 'the', 'borrowing', "agency's", 'regulatory', 'task.?', 'Given', 'the', 'range', 'of', 'figures', 'and', 'methodologies', 'employed', 'in', 'the', 'valuation', 'of', 'human', 'life,', 'there', 'is', 'a', 'justifiable', 'concern', 'that', 'selections', 'based', 'on', 'the', "regulator's", 'predisposition', 'about', 'a', "proposal's", 'desirability', 'rather', 'than', 'on', 'the', 'merits.', 'Certainly', 'valuations', 'can', 'be', 'set', 'purposefully', 'as', 'one', 'of', 'several', 'criteria', 'guiding', 'decision', 'makers.', 'For', 'instance,', 'Viscusi,', 'in', 'surveying', 'available', 'normative', 'studies', 'of', 'life', 'valuation,', 'found', 'that', '(depending', 'on', 'the', 'particular', 'circumstances)', 'plausible', 'justifications', 'are', 'available', 'for', 'values', 'from', '$600,000', '(where', 'individuals', 'place', 'themselves', 'voluntarily', 'in', 'high', 'risk', 'situations)', 'to', '$7', 'million', '(where', 'risks', 'are', 'involuntary', 'and', 'remote).!©', 'Recent', 'reviews', 'of', 'valuation', 'studies', 'support', 'a', 'range', 'of', '$1.6', 'to', '$8.5', 'million.!!', 'But,', 'of', 'course,', 'value', 'of', 'life', 'outcomes', 'also', 'may', 'be', 'a', 'by-product', 'of', ' ', '7', 'pee', '_', 'Valuing', 'Reductions', 'in', 'Risks:', 'A', 'Review', 'of', 'the', 'Empirical', 'Estimates', '--', 'Summary', 'ad', 'k', '8', 'See', 'Federal', 'Highway', 'Administration,', 'Alternative', 'Approaches', 'to', 'Accident', 'Cost', 'Concepts', '--', 'State', 'of', 'the', 'Art', '(1984).', '9', 'In', 'hearings', 'concerning', "EPA's", 'asbestos', 'regulations,', 'Jack', 'Campbell,', 'Deputy', 'Assistant', 'Administrator', 'for', 'Policy,', 'Planning,', 'and', 'Evaluation', 'at', 'EPA,', 'stated:', 'The', '$1', 'million', 'per', 'life', 'saved', 'figure', 'is', 'in', 'essence', 'an', 'arbitrary', 'figure', 'in', 'any', '(regulatory)', 'analysis,', 'and', 'it', 'is', 'used', 'basically', 'as', 'a', 'baseline', 'to', 'judge', 'whether', 'there', 'are', 'positive', 'or', 'negative', 'net', 'benefits', 'to', 'society', 'as', 'a', 'result', 'of', 'a', 'particular', 'action."', "EPA's", 'Asbestos', 'Regulations,', 'Hearings', 'Before', 'the', 'Subcommittee', 'on', 'Oversight', 'and', 'Investigations', 'of', 'the', 'Committee', 'on', 'Energy', 'and', 'Commerce,', '99th', 'Cong.,', 'Ist', 'Sess.,', 'April', '16,', '1985,', 'at', '455.', '10', 'See', 'Viscusi,', 'The', 'Valuation', 'of', 'Risks', 'to', 'Life', 'and', 'Heaith:', 'Guidelines', 'for', 'Policy', 'Analysis', '201-02', 'n.5,', 'in', 'J.', 'Bentkover', 'et', 'al.,', 'Benefits', 'Assessment:', 'The', 'State', 'of', 'the', 'Art', '(1986).', '11', 'Fisher,', 'Chestnut,', '&', 'Violette,', 'The', 'Value', 'of', 'Reducing', 'Risks', 'of', 'Death:', 'A', 'Note', 'on', 'New', 'Evidence', '(forthcoming).', 'TI1700-1828']