Does "Ki" give the reason?
Rashi: Yes. This is why a live dog is better than a dead lion. Perhaps they will put to their hearts the day of death, and repent.
What do we learn from "Ki ha'Chayim Yod'im she'Yamusu"?
Brachos 18a: This refers to Tzadikim, who are called alive even when they are dead.
Ibn Ezra: Even Kesilim know that they will die.
Rashbam: Therefore, they should repent before they die.
Ri Kara: This is why "Lev Bnei ha'Adam Malei Ra Holelus" (3) and Sichlus, for they know that all will die - both Resha'im and Tzadikim.
Rid: The living have no other worry. They rejoice in all worldly matters.
Seforno: They have a spiritual or natural awareness that they will die, and try to escape this for a while via the power of nourishing themselves.
What do we learn from "veha'Mesim Einam Yod'im Me'umah"?
Brachos 18a: This refers to all the dead. They do not know what happens here.
Brachos 18b: This refers to Resha'im, who are called dead even while alive -- "v'Atah Chalal Rasha Nesi Yisrael" (Yechezkel 21:30).
Ibn Ezra: Even Chachamim do not know anything in their deaths.
Rashbam: The dead cannot regret and repent.
Rid: The dead do not feel anything.
Seforno: The dead have no natural or spiritual power. They have no way to try to attain life.
Metzudas David: Knowledge would not help the dead, for regret [of their sins] does not help.
What do we learn from "v'Ein Od Lahem Schar"?
Rashi: There is no reward for anything done after death. One who toiled on Erev Shabbos, he will eat on Shabbos (Avodah Zarah 3a).
Rashbam: They have no respite, reward or salvation from their evil deeds.
Ri Kara: They will not benefit from all that they toiled in this world for the sake of this world.
Seforno: Even if they could attain life, they would not have any reward 1 .
Metzudas David: There is not opportunity to do more Mitzvos, to get reward for action.
They have choice, for Unkelos conjured up three Mesim, and two of them counseled him to fight Yisrael (Gitin 57a)! Rather, reward is for deeds in this world (Radal on Pirkei d'R. Eliezer 43:46). (PF)
Why does it say "Ki Nishkach Zichram"?
Ibn Ezra: They have no hope.
Metzudas David: When a living person regrets his sin or does a Mitzvah, he is remembered for good. This does not apply to Mesim.