Estimating the Value of Statistical Life in Road Safety Improvement: The Case study of Tabriz

Amineh Naderi (), Shahram Fattahi (), Somayeh Azami () and Mina Golestani ()
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Amineh Naderi: Ph.D Candidate in Economics, Razi University
Shahram Fattahi: Associate Professor of Economics, Razi University
Somayeh Azami: Assistant Professor of Economics, Razi University
Mina Golestani: Assistant Professor of Pharmacoeconomics and Pharmaceutical, Road Accident Injury Research Center, Tabriz University of Medical Sciences

Quarterly Journal of Applied Theories of Economics, 2019, vol. 5, issue 4, 107-142

Abstract: With respect to the rapid development of the road transport industry, improving safety and valuing accidents have become an essential issue in public policy. Over the past few decades, studies based on the estimation of valuing statistical life have played a unique role in the cost-benefit estimations of investment in the transport sector. In this regard, this study has been conducted using the stated choice method and the mixed logit model to examine the willingness to pay and the value of statistical life among the Tabriz drivers. The research data were collected through a questionnaire from 300 people who travel daily in the city for various reasons. The statistical value of life and injury for Tabriz city was 18663384 and 135005 Tomans respectively. According to the results, investing in road safety improvement projects is necessary to reduce casualties and injuries

Keywords: Willingness to pay; Choice experiment; Value of statistical life (search for similar items in EconPapers)
JEL-codes: D12 D61 J17 Q50 R41 (search for similar items in EconPapers)
Date: 2019
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