The method preferred by economists for valuing life is to use:

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The method preferred by economists for valuing life is to use revealed preference, which looks at people's actual choices and behavior in real-life situations to determine the value they place on avoiding risk or death. This method is believed to provide more accurate and reliable results than other methods such as contingent valuation, which relies on hypothetical scenarios, or using government preferences or the present value of lifetime earnings.

The Method Preferred by Economists for Valuing Life Is to Use