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The value of life is an economic value used to quantify the benefit of avoiding a fatality. [1] It is also referred to as the cost of life , value of preventing a fatality ( VPF ), implied cost of averting a fatality ( ICAF ), and value of a statistical life ( VSL ).
In general, economic growth and happiness growth tend to go together. Some countries, in some periods, experience economic growth without increasing happiness. The Easterlin paradox is a finding in happiness economics formulated in 1974 by Richard Easterlin , then professor of economics at the University of Pennsylvania , and the first ...
Chang and Halliday use death rates determined by "Chinese demographers" for the years 1957–1963, subtract the average of the pre-and post-Leap death rates (1957, 1962, and 1963) from the death rates of each of the years 1958–1961, and multiply each yearly excess death rate by the year's population to determine excess deaths.
The Philosophy of Money (1900; German: Philosophie des Geldes) [1] is a book on economic sociology by German sociologist and social philosopher Georg Simmel. [2] Considered to be the theorist's greatest work, Simmel's book views money as a structuring agent that helps people understand the totality of life. [2]
A microprobability is a one-in-a million chance of some event; thus, a micromort is the microprobability of death. The micromort concept was introduced by Ronald A. Howard who pioneered the modern practice of decision analysis. [3] Micromorts for future activities can only be rough assessments, as specific circumstances will always have an impact.
Standard of living is the level of income, comforts and services available to an individual, community or society.A contributing factor to an individual's quality of life, standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic, societal, political, and environmental matters. [1]
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Hedonic adaptation is an event or mechanism that reduces the affective impact of substantial emotional events. Generally, hedonic adaptation involves a happiness "set point", whereby humans generally maintain a constant level of happiness throughout their lives, despite events that occur in their environment.