PJ2,
Thanks for the detailed explanation. It is not the quantification of hazard and frequency outcome using stoichastic/deterministic modelling (Monte Carlo, HazOP, ALARP/ALARA etc) that intrigues me here, but the nature of an industry that is not highly understood by the majority protagonists of its use.
The price that a willing individual is prepared to pay is only one aspect of the cost of safety for an industry highly coupled with its related and underlying systems. The other is the need to maximise the return on capital employed by operators who truly understand the underlying risks and it is a this point I would respectfully suggest, that continuous improvement in flight safety needs to remain in the ambit of.
In simple terms it is not the price of a ticket that should ultimately determine the aviation safety case.
Apologies to all for straying off topic.
sAx