Working Papers, Swedish National Road & Transport Research Institute (VTI)
No 2006:5:
Willingness to Pay for Road Safety and Estimates of the Risk of Death: Evidence from a Swedish Contingent Valuation Study
Henrik Andersson ()
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; (follow links to similar papers)
JEL-Codes: C51; D61; J28; (follow links to similar papers)
31 pages, July 4, 2006
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- This paper is published as:
-
Andersson, Henrik, (2007), 'Willingness to Pay for Road Safety and Estimates of the Risk of Death: Evidence from a Swedish Contingent Valuation Study', Accident Analysis and Prevention, Vol. 39, No. 4, pages 853-865
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