Life and Health as Objects of Economic Assessment: Theory, Costs, and Risks
Annotation
The assessment of the value of human life is an interdisciplinary problem that lies at the intersection of economics, sociology, medicine, and law. The relevance of this issue is driven by the need to: justify compensation payments for damage to life and health; calculate the socio-economic effects of safety and healthcare measures; and make management decisions in the fields of occupational safety and environmental protection. The cost-based approach is a key method that involves assessing the costs necessary to maintain or restore health and prolong life. Risks to life and health require qua...