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Value of Statistical Life and Cause of Accident: A Choice Experiment
Karlstad University, Faculty of Economic Sciences, Communication and IT, Department of Economics and Statistics.ORCID iD: 0000-0002-9667-2260
Karlstad University, Faculty of Economic Sciences, Communication and IT, Department of Economics and Statistics.
2010 (English)In: Risk Analysis, ISSN 0272-4332, E-ISSN 1539-6924, Vol. 30, no 6, p. 975-986Article in journal (Refereed)
Abstract

The purpose of this study is to compare the value of statistical life (VSL) estimates for traffic, drowning, and fire accidents. Using a choice experiment in a mail survey of 5,000 Swedish respondents we estimated the willingness to pay for risk reductions in the three accidents. In the experiment respondents were asked a series of questions, whether they would choose risk reducing investments where type of accident, cost of the investment, the risk reduction acquired, and the baseline risk varied between questions. The VSLs for fire and drowning accidents were found to be about 1/3 lower than that for traffic accidents. Although respondents worry more about traffic accidents, this alone cannot explain the difference in VSL estimates. The difference between fire and drowning accidents was not found to be statistically significant

Place, publisher, year, edition, pages
2010. Vol. 30, no 6, p. 975-986
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:kau:diva-10010OAI: oai:DiVA.org:kau-10010DiVA, id: diva2:493526
Available from: 2012-02-08 Created: 2012-02-08 Last updated: 2017-12-07Bibliographically approved

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http://onlinelibrary.wiley.com/doi/10.1111/j.1539-6924.2010.01399.x/abstracthttp://onlinelibrary.wiley.com/doi/10.1111/j.1539-6924.2010.01399.x/pdf

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