Consistency in preferences for road safety: An analysis of precautionary and stated behavior

Henrik Andersson

No 12-359, TSE Working Papers from Toulouse School of Economics (TSE)

Abstract: This study analyzes stated willingness to pay (WTP) for trafic safety, the use of trafic safety equipments, and the consistency between the two. Using data from a Swedish contingent valuation study we find that the estimated value of a statistical life (VSL) based on the respondents' rear- seatbelt usage is similar to the estimate found using the respondents' stated WTP. However, when estimating VSL based on the respondents' use of bicycle helmets we find a significantly higher VSL; the VSL from bicycle-helmet usage is 7 times higher than the estimate based on seatbelt usage. Moreover, we do not find any strong relationship between risk perception and usage, or individual stated WTP and usage. Hence, the main conclusion, based on our analysis, is that stated and observed WTP are not consistent.

Keywords: Revealed preferences; Road safety; Stated preferences; Value of a statistical life; Willingness to pay (search for similar items in EconPapers)
Date: 2012-11
New Economics Papers: this item is included in nep-hea and nep-tre
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Related works:
Journal Article: Consistency in preferences for road safety: An analysis of precautionary and stated behavior (2013)
Working Paper: Consistency in preferences for road safety: An analysis of precautionary and stated behavior (2012)
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