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The idea of associating a monetary value with human life is very challenging and can seem insensitive or harsh. Life is indeed priceless, at least when considered from the complex perspective of an individual. However, policy makers are regularly devising policies and regulations that affect people's risk of death and that seek to protect lives in society, and require methodologies for comparing the costs of reducing risk with the expected benefits in terms of lives saved.

Document Type: Review Article

Publication date: January 1, 2012

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