Companion Animal Intrinsic Value

Abstract

Guardians of companion animals killed wrongfully in the U.S. historically receive compensatory judgments reflecting the animal's economic value. As animals are property in torts law, an animal's economic value is its fair market value (FMV), its value, as it were, to strangers. However, in light of the fact that guardians often value their companion animals at rates in excess of FMV, legislatures and courts have begun to recognize a second value, the animal's value to its guardian, or its capital. Since guardians invest in their animals, when animals are killed guardians lose the opportunity to recoup their investments. In this paper, I argue for a third value, an animal's intrinsic value, its value to itself, and I propose a method to determine it. The method assesses investments animals make in themselves expecting a return. The theory has legal implications for economic damages in wrongful companion animal death lawsuits and philosophical implications for proper assessment of the value of nonhuman animal life.