A METHOD OF EVALUATING HUMAN LIFE FOR ECONOMIC PURPOSES

A method of estimating a monetary value of life which can be used for the evaluation of safety precautions is presented. People are willing to spend money to reduce the risk of accidents, or alternatively to increase the risk for some benefit. The method described endeavours to estimate the value of life which is consistent with such behaviour. The results obtained are compared with values given by discounted earning. The importance of perceived risk is also considered. Factors influencing perceived risk are discussed. (A) /TRRL/

  • Availability:
  • Corporate Authors:

    Pergamon Press, Incorporated

    Maxwell House, Fairview Park
    Elmsford, NY  United States  10523
  • Authors:
    • Melinek, S J
  • Publication Date: 1974-10

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00128146
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Files: ITRD, TRIS
  • Created Date: Feb 19 1976 12:00AM