Modern methods of human life evaluation

Abstract

In this paper, the authors classified the methods of evaluation of life and human health, physical and mental suffering, identified influencing factors affecting the value of the estimate cost of living on the basis of generalization of extensive theoretical and empirical material of various domestic and foreign publications. From the perspective of human capital theory, various approaches to modeling monetary value of human life are reviewed, for example, the demographic approach, consequential, direct investments in human lived during the interval years, theory of utility to the human society, the cost of risk unit and society's willingness to pay for the damages, as well as costs to society to reduce the risk of premature death of its member.