EconPapers    
Economics at your fingertips  
 

A novel approach to estimating the demand value of public safety

Christoph Rheinberger (), Felix Schläpfer and Michael Lobsiger

Journal of Environmental Economics and Management, 2018, vol. 89, issue C, 285-305

Abstract: We present a novel approach for estimating the demand value of public safety and apply it to road safety improvements in Switzerland. Survey responses by more than 1,000 eligible voters to questions about how much public spending on road safety should increase are combined with observations of their income tax and road usage to derive the value of a statistical accident avoided. A risk-risk tradeoff elicitation allows decomposing this value into willingness-to-pay values for various degrees of accident severity. Our most comprehensive estimate of the value per statistical life is CHF 4.2 million (corresponding to $4.5 million or €3.5 million). We explore the sensitivity of the elicitation approach to anchoring and other framing effects and find that our approach is as least as scope sensitive as other stated preference approaches.

JEL-codes: H41 I38 J17 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0095069617303492
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jeeman:v:89:y:2018:i:c:p:285-305

Access Statistics for this article

Journal of Environmental Economics and Management is currently edited by M.A. Cole, A. Lange, D.J. Phaneuf, D. Popp, M.J. Roberts, M.D. Smith, C. Timmins, Q. Weninger and A.J. Yates

More articles in Journal of Environmental Economics and Management from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-11-12
Handle: RePEc:eee:jeeman:v:89:y:2018:i:c:p:285-305