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Dog Value: $10,000

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  • Dog Value: $10,000

    The concept of the value of a statistical life (VSL) is used in wrongful death lawsuits to determine how large the award to the plaintiffs should be. Economists have recently tried calculating the same kind of valuation for a pet dog:

    Researchers have finally put a price tag on the life of a dog

    It comes to about $10,000.
    Dav Vandenbroucke

  • #2
    A local woman is suing a Doggy Day Care for failure to secure the doors, and her dog got out, and killed by a car. The suit alleges the facility knew they had a door problem, but did nothing about it. And guess what? They added extra barriers to prevent this from happening in the future. However, PA is a State that states that a dog is merely property, for legal purposes. But all dog owners know dogs are not 'merely' property. Of course, cat servants know their cats are worth far more than $10,000.
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    • #3
      Wonder how they came up with that number...
      Diane and Cicero - Sr. Manager:

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      • #4
        The article goes into that. They asked people what they would be willing to pay for a vaccine that would reduce their dog's chance of dying by a certain percent. By varying the hypothetical price and percentage, they got a range where people were willing to get the vaccine. That was scaled up into the value they put on the dog.
        Dav Vandenbroucke

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        • #5
          That was a very interesting way of trying to assess value. The drawback is that they had to ask of people who could, at least in principle, have the money for the vaccine. I know for me, if it was applied to a cat, and the question came down to whether I would spend $10K to save my child or save may cat, One can always 'make' another child.
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