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Willingness to Pay for Road Safety and Estimates of the Risk of Death: Evidence from a Swedish Contingent Valuation Study

Henrik Andersson

No 2006:5, Working Papers from Swedish National Road & Transport Research Institute (VTI)

Abstract: We examine how WTP for a reduction in road-mortality risk varies with different individual characteristics and how subjective mortality-risk estimates differ from objective (statistical) mortality-risk values. Using data from a Swedish contingent valuation study, we find some support that WTP declines with age and background risk, but we find no support that WTP varies with health status. Further, we find that respondents underassess their own mortality risks, both road- and total-mortality risks, compared to the objective risk measures for Sweden at the time of the survey.

Keywords: age; background risk; contingent valuation; health status; willingness to pay; risk perception; road safety (search for similar items in EconPapers)
JEL-codes: C51 D61 J28 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2006-07-04
New Economics Papers: this item is included in nep-fmk, nep-hea, nep-ias, nep-reg and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Published in Accident Analysis and Prevention, 2007, pages 853-865.

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