Valuing casualty risk reductions from estimated baseline risk

Knut Veisten, Stefan Flügel, Luis I. Rizzi, Juan de Dios Ortúzar and Rune Elvik

Research in Transportation Economics, 2013, vol. 43, issue 1, 50-61

Abstract: Stated choice studies have been applied regularly to the valuation of time savings and other attributes of travelling as perceived by individuals. In such experiments, respondents often provide reference levels for the attributes and the hypothetical choices presented to them are pivoted around actual behaviour. However, most individuals are not able to provide reference levels for the number of casualties on the road they travel. Thus, if valuation of this important element is attempted, it is the researcher who must provide casualty risk reference levels to the respondents. Some studies have applied route choice experiments including a safety attribute but the majority has been limited to only one particular road section with a common baseline risk for all respondents.

Keywords: Fatalities; Injuries; Mixed logit; Stated choice; Value of statistical life; Willingness to pay (search for similar items in EconPapers)
JEL-codes: C25 C83 C93 R41 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:retrec:v:43:y:2013:i:1:p:50-61

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DOI: 10.1016/j.retrec.2012.12.009

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