The value of human life in economics.

Summary The reference methodological guide in France for the evaluation of public investments recommends a VSL of 3 million euros (Quinet 2013). What does this value mean? Where does it come from? How does it vary according to the characteristics of the population or the risk? How is it used in France, and elsewhere? What are the implications of its use for risk equity? More generally, what are the advantages and limitations of the economic concept of value of life? This article seeks to answer these questions in a simple and brief manner.