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The International Commission on Radiological Protection (ICRP) 103 recommends a costbenefitanalysis method as an auxiliary tool for scientific and rational decision-making for the principle ofoptimization of radiological protection. In order to conduct a cost-benefit analysis, the safety improvementof nuclear power by regulation must be measured and converted into monetary terms. The improvementof nuclear safety can be measured by reducing the radiation exposure dose of the people, and it isnecessary to determine the coefficient to convert the radiation exposure dose into money. The monetarycoefficient is calculated as the product of the statistical life value (VSL) and the nominal risk coefficient. In order to derive the monetary coefficient, the willingness to pay (WTP) can be estimated using thecontingent valuation method (CVM), which quantifies the value of non-market goods by converting theminto monetary units. WTP can be estimated based on the random utility model, which is the basic modelfor bivariate selection type conditional value measurement data. Statistical life value can be calculatedusing the estimated WTP and reduction in early mortality, and a monetary coefficient can be derived.
