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When Pricing Saves Lives

The Unthinkable author Amanda Ripley points to an interesting story about child safety in air travel. In the 1990’s, a call went out for the F.A.A. to stop letting air-traveling parents carry young children in their laps, making them buy a ticket for their children instead, so that every person could wear a seatbelt. The F.A.A. refused, saying that the cost of an extra ticket could force parents to travel by car instead. Car crashes are the leading cause of death for children. On the other hand, the problem of child safety in air travel, the F.A.A. said, “barely exists.” Yet another example of how terrible we are at assessing risk, especially when it comes to our children. [%comments]