VSL meaning in Business ?

Answer:

What is Value of a Statistical Life mean?

The value of life is an economic value used to quantify the benefit of avoiding a fatality. It is also referred to as the cost of life, value of preventing a fatality (VPF) and implied cost of averting a fatality (ICAF). In social and political sciences, it is the marginal cost of death prevention in a certain class of circumstances. In many studies the value also includes the quality of life, the expected life time remaining, as well as the earning potential of a given person especially for an after-the-fact payment in a wrongful death claim lawsuit.

As such, it is a statistical term, the cost of reducing the average number of deaths by one. It is an important issue in a wide range of disciplines including economics, health care, adoption, political economy, insurance, worker safety, environmental impact assessment, and globalization.

In industrial nations, the justice system considers a human life "priceless", thus illegalizing any form of slavery; i.e., humans cannot be bought at any price. However, with a limited supply of resources or infrastructural capital (e.g. ambulances), or skill at hand, it is impossible to save every life, so some trade-off must be made. Also, this argument neglects the statistical context of the term. It is not commonly attached to lives of individuals or used to compare the value of one person's life relative to another person's. It is mainly used in circumstances of saving lives as opposed to taking lives or "producing" lives.

reference

Full Form	Category
Virginia State Library	Academic & Science
Value of Statistical Life	Academic & Science
Value of a Statistical Life	Business
VIO Systems Limited	Business
Videsh Sanchar Nigam Limited American Depositary Receipts	Business
Vienna Symphonic Library	Community
Visual Spatial Learner	Community
Venture Scout Leader	Community
Volume of Sacred Law	Community
Virtual Software Library	Computing
Virtools Scripting Language	Computing
Virtual Shareware Library	Computing
Virtual Sampler Library	Computing
Virtual Stream Library	Computing
Video Services Library	Computing
Virtual Socket Library	Computing
Virtual Switch Links	Computing
Virtual Studio Live	Computing
Variable Speed Of Ligth	General
Very Small Llama	General
Varible Speed Of Light	General
Varrio Street Locos	General
Virginia State Line	General
Very Short List	General
Virtual Storage Layer	General
Very Smooth and Light	General
Very Sporty Lifestyle	General
Visual Spatial Learners	General
Video Sales Letter	General
Variable Speed of Light	General
Village Savings and Loan	General
Variable Speed Limit	General
Variable Speed Limits	General
Venture Stock Loan	General
Varying Speed Of Light	General
Vinh Som Liem	General
Vintage Super League	General
Versus Starcraft League	General
Very Smooth Lager	General
Vehicle Speed Limiting	General
Vehicle Speed Logger	General
Vehicule Sanitaire Leger	General
Valve Seal	General
Vitreous State Laboratory	Medical
Virtual Steganographic Laboratory	Medical
Van Swinden Laboratory	Medical
Varietys The Spice of Life	Messaging
Vessel	Military and Defence
Vermont Soccer League	Sports
Virginia Soccer League	Sports