Willingness-to-Pay for Road Safety Improvement
نویسندگان
چکیده
منابع مشابه
Estimating the Willingness-to-Pay for Road Safety Improvements
The value of road safety is the fundamental input in social cost–benefit analysis of road safety schemes. It is also an increasingly important input in the social evaluation of almost any transport infrastructure project. This value is given by the amount that people are willing to pay for reducing the risk of a becoming a fatal victim or of suffering a serious injury. Traditionally, road safet...
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Public investments are dynamic in nature, and decision making must account for the uncertainty, irreversibility and potential for future learning. In this paper we adapt the theory for investment under uncertainty for a public referendum setting and perform the first empirical test to show that estimates of the value of a statistical life (VSL) from stated preference surveys are highly dependen...
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Estimates of the willingness to pay (WTP) for a mortality risk reduction can be used to calculate the value of a statistical life, which is a major component in many economic evaluations of environmental and safety policies. Previous research on the WTP for risk reductions using stated preference methods have found that the mean WTP for public risk reductions is significantly smaller compared t...
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Stated preference (SP) surveys attempt to obtain monetary values for non-market goods that reflect individuals’ “true” preferences. Numerous empirical studies suggest that monetary values from SP studies are sensitive to survey design and so may not reflect respondents’ true preferences. This study examines the effect of time framing on respondents’ willingness to pay (WTP) for car safety. We e...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2398981