 In order to make overall alternatives comparable in simple numerical terms, all consequences, including losses of human lives, have to be assigned monetary values. The discussion about assigning monetary value to human lives seems to have had its origin in criticism by the American Air Force against a report from the RAND Corporation in 1950. The report recommended a military strategy that would result in mortality rates for crew members that the military considered to be unacceptably high. This was because loss of crew members was not included in the calculations. This omission had the same effect as setting the value of a soldier’s life at zero. In response to the criticism, the RAND Corporation began to include a life value in their analyses, but they had considerable difficulties in deriving this value (Banzhof 2014). Their employee Thomas Schelling proposed that life values should be derived from a marginal analysis of individuals’ own valuation of risks of death (Schelling 1968). If a person would accept a death risk of 1/10,000 against a compensation of $400, then that is taken to express a life value of 10,000 \(\times\) $400 or $4,000,000.