The value of improved road safety

Lars Hultkrantz, Gunnar Lindberg and Camilla Andersson
Additional contact information
Gunnar Lindberg: VTI, Postal: VTI, 581 95 Linköping, Sweden, http://www.vti.se
Camilla Andersson: Umeå University, Postal: Institutionen för nationalekonomi, Umeå universitet, 901 87 Umeå , Sweden, http://www.umu.se

No 2005:4, Working Papers from Örebro University, School of Business

Abstract: We report the results of a contingent valuation study of the value of a serious statistical accident (VSSA) in an urban road safety context in Sweden. To account for scale bias of responses (i.e., the insensitivity of the willingness-to-pay value to the size of the risk reduction being valued) we derive a lower-bound estimate. This is computed from the willingness to pay for a private-good device or a public safety program that completely eliminates the risk of fatal and serious injury road accidents.

We search for values from respondents with self- reported high confidence in their answers. Our conservative estimates result in average benefits of public road-safety measures targeting serious accidents that are greater than previous studies have indicated.

Keywords: Value of statistical life; vision zero; contingent valuation; scale bias; scope bias (search for similar items in EconPapers)
JEL-codes: H43 I18 Q51 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2005-03-10
New Economics Papers: this item is included in nep-hea, nep-reg and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Journal Article: The value of improved road safety (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:oruesi:2005_004

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