Life Value Assessment Methods in Emerging Markets: Evidence from China

Liang Tan, Aochen Cao, Dongyang Qiu () and Bolin Liang
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Liang Tan: School of International Business and Management, Sichuan International Studies University, Chongqing 400031, China
Aochen Cao: School of Economics, Central University of Finance and Economics, Beijing 100081, China
Dongyang Qiu: School of Economics and Finance, Chongqing University of Technology, Chongqing 400054, China
Bolin Liang: College of Finance and Economics, Sichuan International Studies University, Chongqing 400031, China

Sustainability, 2023, vol. 15, issue 10, 1-13

Abstract: The paper explores life value assessment methods in China from both the historical and modern perspectives. The historical perspective includes the death penalty ransom approach and government pricing approach, while the modern perspective contains the human capital method and willingness-to-pay method. The human capital method measures the economic value created by people and uses it as their life assessment value, and the willingness-to-pay method evaluates peoples’ life value indirectly through the trade-off between the death risk and benefit. The paper then puts forward improvement ideas for the two modern life value assessment models and proposes possible future research directions, meanwhile providing a reference for such practical issues as compensation policymaking for industrial injuries or deaths for the sustainable development of emerging countries.

Keywords: China; life value assessment; emerging market; sustainable development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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