Difference between revisions of "Value of human life"
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[[wikipedia:Value of life|Value of life]] (also known as value of statistical life). | [[wikipedia:Value of life|Value of life]] (also known as value of statistical life). | ||
In the U.S., one human life is worth roughly $10 million.<ref name="gonzalez2020">Sarah Gonzalez. [https://www.npr.org/2020/04/23/843310123/how-government-agencies-determine-the-dollar-value-of-human-life "How Government Agencies Determine The Dollar Value Of Human Life."] ''NPR'', April 23, 2020.</ref><ref name=" | In the U.S., one human life is worth roughly $10 million.<ref name="gonzalez2020">Sarah Gonzalez. [https://www.npr.org/2020/04/23/843310123/how-government-agencies-determine-the-dollar-value-of-human-life "How Government Agencies Determine The Dollar Value Of Human Life."] ''NPR'', April 23, 2020.</ref> Thomas Schelling, a Harvard professor and RAND economist, articulated the concept of the "value of a statistical life" in 1968. W. Kip Viscusi, economist at Vanderbilt University, suggested in 1981 using the VSL to make decisions.<ref name="rogers2020">Adam Rogers. [https://www.wired.com/story/how-much-is-human-life-worth-in-dollars/ "How much is a human life actually worth?"] ''WIRED'', May 11, 2020.</ref> | ||
<ref name="rogers2020" /> | |||
* | Others who did research / contributed to this thinking: | ||
* Kenneth Feinberg | |||
* Warren Prunella, economics professor at Canisius College, came up with one of the earliest calculations used in regulation in 1978.<ref name="frakt2020">Austin Frakt. [https://www.nytimes.com/2020/05/11/upshot/virus-price-human-life.html "Putting a Dollar Value on Life? Governments Already Do."] ''The New York Times'', May 11, 2020.</ref> | |||
* Kenneth Feinberg<ref name="dubner2018">Stephen J. Dubner. [https://freakonomics.com/podcast/kenneth-feinberg/ "Who Decides How Much a Life Is Worth?"] ''Freakonomics'', Ep.344, August 8, 2018.</ref> | |||
* Stefanos Zenios at Stanford Graduate School of Business<ref name="kingsbury2008">Kathleen Kingsbury. [http://content.time.com/time/health/article/0,8599,1808049,00.html "The Value of a Human Life: $129,000."] ''Time'', May 20, 2008.</ref> | * Stefanos Zenios at Stanford Graduate School of Business<ref name="kingsbury2008">Kathleen Kingsbury. [http://content.time.com/time/health/article/0,8599,1808049,00.html "The Value of a Human Life: $129,000."] ''Time'', May 20, 2008.</ref> | ||
Amelia Thomson-DeVeaux. [https://fivethirtyeight.com/features/what-should-the-government-spend-to-save-a-life/ "What Should The Government Spend To Save A Life?"] ''FiveThirtyEight'', March 27, 2020. | Amelia Thomson-DeVeaux. [https://fivethirtyeight.com/features/what-should-the-government-spend-to-save-a-life/ "What Should The Government Spend To Save A Life?"] ''FiveThirtyEight'', March 27, 2020. |
Revision as of 00:22, 23 June 2020
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Value of life (also known as value of statistical life).
In the U.S., one human life is worth roughly $10 million.[1] Thomas Schelling, a Harvard professor and RAND economist, articulated the concept of the "value of a statistical life" in 1968. W. Kip Viscusi, economist at Vanderbilt University, suggested in 1981 using the VSL to make decisions.[2] [2]
Others who did research / contributed to this thinking:
- Warren Prunella, economics professor at Canisius College, came up with one of the earliest calculations used in regulation in 1978.[3]
- Kenneth Feinberg[4]
- Stefanos Zenios at Stanford Graduate School of Business[5]
Amelia Thomson-DeVeaux. "What Should The Government Spend To Save A Life?" FiveThirtyEight, March 27, 2020.
Frank Partnoy. "The Cost of a Human Life, Statistically Speaking." The Globalist, July 21, 2012.
References
- ↑ Sarah Gonzalez. "How Government Agencies Determine The Dollar Value Of Human Life." NPR, April 23, 2020.
- ↑ 2.0 2.1 Adam Rogers. "How much is a human life actually worth?" WIRED, May 11, 2020.
- ↑ Austin Frakt. "Putting a Dollar Value on Life? Governments Already Do." The New York Times, May 11, 2020.
- ↑ Stephen J. Dubner. "Who Decides How Much a Life Is Worth?" Freakonomics, Ep.344, August 8, 2018.
- ↑ Kathleen Kingsbury. "The Value of a Human Life: $129,000." Time, May 20, 2008.