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Compensation claims always have to balance this and turn to cold, hard guidelines because there is no price you can put on the emotional loss.
A formula for calculating such a thing could look at age, health, level of education and level of wealth to determine an expected death date if it weren't brought forward in an untimely manner. From that, you could calculate how many years of contribution to the economy that were lost and multiply that by the median wage.
I'm pretty sure something like that already exists but I CBA to google for it.
Quality life years (QALY) used to be a thing. Not sure if they still are.
Compensation claims always have to balance this and turn to cold, hard guidelines because there is no price you can put on the emotional loss.
A formula for calculating such a thing could look at age, health, level of education and level of wealth to determine an expected death date if it weren't brought forward in an untimely manner. From that, you could calculate how many years of contribution to the economy that were lost and multiply that by the median wage.
I'm pretty sure something like that already exists but I CBA to google for it.
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