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The human life cost: the theory and practice of measurement


The article reviews available methodological approaches to assessment of human life. It is proved that the most appropriate approach is based on the cost method and the concept of human capital. Article presents quantitative calculations of the economic human life equivalent which is equated to the value of human capital of one individual.

Author suggests that the quantitative assessment should be used for calculation the losses associated with the life loss or insurance payments due to disability.

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