Walking a mile is 19 times or 1,900 percent more dangerous than driving a mile in a recalled Toyota. Driving while using a cell phone would increase risk much more than the chance of having a stuck accelerator.He concludes that, if left uncorrected, the Toyota defects would result in an extra 600 motor-vehicle deaths each year.
The total estimated cost of the recall to Toyota is approximately $2 billion (see here), which may seem a lot to reduce a risk that is 19 times less dangerous than walking a mile. However, over any reasonable time-period, saving 600 lives per year is worth a lot. Even if we were only talking about one year, the cost per life saved would be $3.33 million, which is well within the accepted range of human life valuations in the literature.
Hat tip: Marginal Revolution