Back Wert eines Menschenlebens German Valor de la vida Spanish Elämän arvo Finnish Valeur de la vie French Стоимость человеческой жизни Russian Värdet av ett statistiskt liv Swedish
The value of life is an economic value used to quantify the benefit of avoiding a fatality.[1] It is also referred to as the cost of life, value of preventing a fatality (VPF), implied cost of averting a fatality (ICAF), and value of a statistical life (VSL). In social and political sciences, it is the marginal cost of death prevention in a certain class of circumstances. In many studies the value also includes the quality of life, the expected life time remaining, as well as the earning potential of a given person especially for an after-the-fact payment in a wrongful death claim lawsuit.
As such, it is a statistical term, the value of reducing the average number of deaths by one. It is an important issue in a wide range of disciplines including economics, health care, adoption, political economy, insurance, worker safety, environmental impact assessment, globalization,[2] and process safety.[3][4]
The motivation for placing a monetary value on life is to enable policy and regulatory analysts to allocate the limited supply of resources, infrastructure, labor, and tax revenue. Estimates for the value of a life are used to compare the life-saving and risk-reduction benefits of new policies, regulations, and projects against a variety of other factors,[2] often using a cost-benefit analysis.[3]
Estimates for the statistical value of life are published and used in practice by various government agencies. In Western countries and other liberal democracies, estimates for the value of a statistical life typically range from US$1 million–US$10 million; for example, the United States FEMA estimated the value of a statistical life at US$7.5 million in 2020.[5]
- ^ Cite error: The named reference
DPMCwas invoked but never defined (see the help page). - ^ a b Cite error: The named reference
Millerwas invoked but never defined (see the help page). - ^ a b Franks, Andrew; Whitehead, Richard; Crossthwaite, Phil; Small, Louise (2002). Application of QRA in Operational Safety Issues. Research Report 025. Sudbury: HSE Books. ISBN 0-7176-2570-2.
- ^ Rausand, Marvin (2011). Risk Assessment: Theory, Methods, and Applications. Hoboken, N.J.: John Wiley & Sons. ISBN 978-0-470-63764-7.
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fema_vslwas invoked but never defined (see the help page).