Advanced Search
MyIDEAS: Login

Deriving Values of Statistical Lives From Observations of Speed Limits and Driving Behaviour

Contents:

Author Info

  • Jon Strand

Abstract

This paper discusses different ways in which empirical estimates of the value of a statistical life (VSL) can be derived from observations of highway driving speeds and how these speeds are affected by speed limits and penalties for speeding. Assuming that drivers optimise with respect to driving speeds, we derive three alternative such concepts. The first two of these are based on construction of driver utility functions, and the last one on revealed government preferences as in a paper by Ashenfelter and Greenstone (2004a). The two last (but not the first) are based on observations of changed driving speeds when speed limits and penalties for speeding change. When drivers instead are law-abiding and adhere to speed limits, only the last approach can be used. While Ashenfelter and Greenstone's may be the only viable approach given current data availability, we also indicate some potential problems with their results, in putting great demand on government information about VSL, and in possibly overvaluing VSL since mortality risk is considered as the only social cost of increased highway speeds. © 2005 LSE and the University of Bath

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.catchword.com/cgi-bin/cgi?ini=bc&body=linker&reqidx=0022-5258(20050101)39:1L.93;1-
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.

Volume (Year): 39 (2005)
Issue (Month): 1 (January)
Pages: 93-108

as in new window
Handle: RePEc:tpe:jtecpo:v:39:y:2005:i:1:p:93-108

Contact details of provider:
Web page: http://www.bath.ac.uk/e-journals/jtep

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:tpe:jtecpo:v:39:y:2005:i:1:p:93-108. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.