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Risk Perceptions and Value of a Statistical Life for Air Pollution and Traffic Accidents: Evidence from Bangkok, Thailand

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  • Sujitra Vassanadumrongdee

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  • Shunji Matsuoka
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    Abstract

    This paper presents results of two contingent valuation surveys conducted in Bangkok measuring individuals’ willingness to pay (WTP) to reduce mortality risk arising from two risk contexts: air pollution traffic accidents Results from the risk perception survey disclose that respondents view the two risks differently. WTP to reduce air pollution risk is influenced by degrees of dread, severity, controllability and personal exposure, while WTP to reduce traffic accident risk is influenced by perceived immediate occurrence. Nevertheless, the value of a statistical life (VSL) for both air pollution and traffic accidents are comparable (US$0.74 to $1.32 million and US$0.87 to $1.48 million, respectively). This indicates that the risk perception factor alone has little impact on the VSL, a finding similar to previous studies using program choice indifferences. Copyright Springer Science + Business Media, Inc. 2005

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    File URL: http://hdl.handle.net/10.1007/s11166-005-1155-0
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Risk and Uncertainty.

    Volume (Year): 30 (2005)
    Issue (Month): 3 (May)
    Pages: 261-287

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    Handle: RePEc:kap:jrisku:v:30:y:2005:i:3:p:261-287

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    Web page: http://www.springerlink.com/link.asp?id=100299

    Related research

    Keywords: contingent valuation; value of statistical life; willingness-to-pay; air pollution; road traffic accident; developing country;

    References

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    Cited by:
    1. Abdelaziz Benkhalifa & Paul Lanoie & Mohamed Ayadi, 2013. "Estimated hedonic wage function and value of life in an African country," Economics Bulletin, AccessEcon, vol. 33(4), pages 3023-3031.
    2. Botzen, W.J.W. & van den Bergh, J.C.J.M., 2012. "Risk attitudes to low-probability climate change risks: WTP for flood insurance," Journal of Economic Behavior & Organization, Elsevier, vol. 82(1), pages 151-166.
    3. Abdelaziz Benkhalifa & Mohamed Ayadi & Paul Lanoie, 2012. "Estimated hedonic wage function and value of life in an African country," Cahiers de recherche 12-01, HEC Montréal, Institut d'économie appliquée.
    4. Carlsson, Fredrik & Daruvala, Dinky & Jaldell, Henrik, 2008. "Value of statistical life and cause of accident: A choice experiment," Working Papers in Economics 332, University of Gothenburg, Department of Economics.
    5. Sakulniyomporn, Songsak & Kubaha, Kuskana & Chullabodhi, Chullapong, 2011. "External costs of fossil electricity generation: Health-based assessment in Thailand," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(8), pages 3470-3479.
    6. Gibson, John & Barns, Sandra & Cameron, Michael & Lim, Steven & Scrimgeour, Frank & Tressler, John, 2007. "The Value of Statistical Life and the Economics of Landmine Clearance in Developing Countries," World Development, Elsevier, vol. 35(3), pages 512-531, March.
    7. Bhattacharya, Soma & Alberini, Anna & Cropper, Maureen L., 2006. "The value of mortality risk reductions in Delhi, India," Policy Research Working Paper Series 3995, The World Bank.
    8. Taro Ohdoko & Satoru Komatsu & Shinji Kaneko, 2013. "Residential preferences for stable electricity supply and a reduction in air pollution risk: a benefit transfer study using choice modeling in China," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, vol. 15(3), pages 309-328, July.
    9. Anna Alberini & Stefania Tonin & Margherita Turvani & Aline Chiabai, 2007. "Paying for permanence: Public preferences for contaminated site cleanup," Journal of Risk and Uncertainty, Springer, vol. 34(2), pages 155-178, April.
    10. Jaldell, Henrik & Lebnak, P & Anurak, A & Krongkan, B & Khanisthar, P, 2013. "Time is money, but how much? The monetary value of response time for Thai ambulance emergency services," Karlstad University Working Papers in Economics 8, Department of Economics, Karlstad University.
    11. Garces-Voisenat, Juan-Pedro & Mukherjee, Zinnia, 2012. "Estimating the willingness to pay for environmental resources in the Chilean Patagonia," MPRA Paper 39320, University Library of Munich, Germany.
    12. Thijs Dekker & Roy Brouwer & Marjan Hofkes & Klaus Moeltner, 2011. "The Effect of Risk Context on the Value of a Statistical Life: a Bayesian Meta-model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 49(4), pages 597-624, August.

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