Definitions for value of life
val·ue of life

WikipediaRate this definition:0.0 / 0 votes

1. Value of life

   The value of life is an economic value used to quantify the benefit of avoiding a fatality. 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 cost 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, and globalization.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.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.

WikidataRate this definition:2.8 / 6 votes

1. Value of life

   The potency of life is an economic value assigned to life in general, or to specific living organisms. In social and political sciences, it is the marginal cost of death prevention in a certain class of circumstances. As such, it is a statistical term, the cost 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, and globalization. In industrial nations, the justice system considers a human life "priceless", thus illegalizing any form of slavery; i.e., humans cannot be bought for any price. However, with a limited supply of resources or infrastructural capital, or skill at hand, it is impossible to save every life, so some trade-off must be made. Also, this argumentation neglects the statistical context of the term. It is not commonly attached to lives of individuals or used to compare the value of one person's life relative to another person's. It is mainly used in circumstances of saving lives as opposed to taking lives or "producing" lives.

U.S. National Library of MedicineRate this definition:4.4 / 8 votes

1. Value of Life

   The intrinsic moral worth ascribed to a living being. (Bioethics Thesaurus)

How to pronounce value of life?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say value of life in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of value of life in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of value of life in Pythagorean Numerology is: 6

Examples of value of life in a Sentence

1. Charles Robert Darwin:

   A man who dares to waste one hour of time has not discovered the value of life.

2. Jorge Iván Ospina:

   Mr. President, the tax reform is dead. We don't want it to cause more deaths. Please, withdraw it, I am asking Ombudsman Carlos Camargo for this on behalf of the people of Cali, i want to invite the whole Cali public to specifically reflect on the importance and value of life.

3. Sviatoslav Fursin Fursin:

   Only when you see this, you understand the value of life. And for me, this is 100%, what we went through together, I understand that [we are] completely different. And that we [continue] to love each other, that, for me, is maybe the biggest sign that it’s true love.

4. Yaryna Arieva:

   I became less naive and less childish. And maybe it has made me a little bit stronger. Because what doesn’t kill us, makes us stronger, of course, only when you see this, you understand the value of life. And for me, this is 100%.

5. Clifford Villanueva Villalon:

   Four orphans outside a church received a dime, a quarter coin, a half-dollar coin and a dollar coin. The oldest orphan gets the one dollar-coin while the youngest gets the dime. How do you measure the value of life?

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Value_of_Life
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=value of life