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New Approach for Monetary Valuation of the Statistical Life

Author

Listed:
  • Frantz Daniel Fistung

    (The Centre of Industrial and Services Economics)

Abstract

This work aim at proposing a new method for monetary valuation of Statistical life. This approach is different from the existing ones in that moment because propose to link the Value of Statistical Life with to major economic indicators: Gross Domestic Product per capita and the Life Expectancy. Comparing the results obtained using the new formulas proposed in this work, with some other analysis made, at the international level, on the same purpose, the differences are not significant. The proposed method is more relevant and creates the possibility of adopting a unique value for the Value of Statistical Life at world level.

Suggested Citation

  • Frantz Daniel Fistung, 2017. "New Approach for Monetary Valuation of the Statistical Life," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(4), pages 250-263, AUGUST.
    • Handle: RePEc:dug:actaec:y:2017:i:4:p:250-263
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