Economic Estimating of the Human Life Value

Student: By`chkova Mariya

Supervisor: Vladimir N. Lexin

Educational Programme: Master

Year of Graduation: 2014

In this paper I conducted comparative analysis using five groups of economic conceptions to valuing human life and estimated the value of human life using conception based on the compensation payments to families of those killed with identification of factors that affect the amount of compensation.Identified the limitations of using those five groups of conceptions related to the use of indicators do not adequately reflect the value of human life.Estimated the value of human life using conditional examples for applicable methods those are applicable for Russia. As a result, was given the quantitative confirmation of the previously mentioned limitations. Collected and systematized information about the accidents and compensation payments to the families of those killed and highlighted the legal grounds of these payments, sources of financing, procedure for making payments, as well as the factors that affect the amount of payments in the cases of terrorist attacks, death in the workplace, on public transport or in specially dangerous objects and about additional economic and social support for families of the victims and the world practice in this area. Using gathered information was made an econometric model, which allowed identify factors that affect the total amount of the compensation payments and the amount of the payments from the state budget. It is shown that for the period under review, an undeniable impact of the public response on the amount of compensation payments had an indirect effect, while the main factor influencing the positive dynamics of the amount of payments is the general level of the economic development.Despite the significant increase of the average amount of the compensation payments, as well as significant changes in legislation over the past few years, the practice of compensation payments to the families of those killed still need national regulation of both procedural and conceptual character.

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