Road Safety Valuation under a Stated Choice Framework
AbstractThe value of fatal risk reductions is a vital input for road safety cost-benefit analysis and has been traditionally estimated by means of contingent valuation in spite of the growing criticism surrounding this approach. Furthermore, many scholars believe that risk-money trade-offs are not well understood because of the difficulty of internalising tiny risks; the authors have applied the Stated Choice (SC) approach to tackle this problem. To assess the robustness of SC, the authors conducted an external validity test based on the results of three different studies. They found that people can internalise risk, expressed as fatal crashes, in a consistent way from an economic point of view. Finally they offer a hypothesis to explain the differences between their values and figures obtained in developed countries, highlighting the importance of conducting local studies rather than transferring imported values. © 2006 LSE and the University of Bath
Download InfoIf 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.
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 InfoArticle provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.
Volume (Year): 40 (2006)
Issue (Month): 1 (January)
Contact details of provider:
Web page: http://www.bath.ac.uk/e-journals/jtep
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Vincent van den Berg & Eric Kroes & Erik T. Verhoef, 2010. "Biases in Willingness-To-Pay Measures from Multinomial Logit Estimates due to Unobserved Heterogeneity," Tinbergen Institute Discussion Papers 10-014/3, Tinbergen Institute.
- Bliemer, Michiel C.J. & Rose, John M., 2011. "Experimental design influences on stated choice outputs: An empirical study in air travel choice," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(1), pages 63-79, January.
- Luis Rizzi, 2008. "Integrating Travel Delays, Road Safety, Care, Vehicle Insurance and Cost-Benefit Analysis of Road Capacity Expansion in a Unified Framework," Networks and Spatial Economics, Springer, vol. 8(2), pages 125-140, September.
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.