The Value of a Statistical Life in Sweden Estimates from Two Studies using the "Certainty Approach" Calibration
AbstractStated preference methods using surveys to elicit willingness to pay have been shown to suffer from hypothetical bias and scope/scale bias. Hypothetical bias usually means that willingness to pay is exaggerated in the hypothetical scenario and scope/scale bias means that there is an insensitivity in willingness to pay with regard to the amount of goods or the size of a good being valued. Experimental results in social psychology and economics have shown that only trusting the most certain respondents can potentially solve the problem with hypothetical bias and scope/scale bias. This paper presents the results of two different surveys in Sweden estimating the willingness to pay to reduce traffic mortality risks by only including the most certain respondents. Using the full sample, estimates of VOSL are $4.2 and $7.3 million. Estimates of VOSL on the subset of the samples only including the most certain respondents are lower and consistent between the two surveys with values of $2.9 and $3.1 million.
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Bibliographic InfoPaper provided by Örebro University, School of Business in its series Working Papers with number 2006:6.
Length: 22 pages
Date of creation: 27 Sep 2006
Date of revision: 25 Jul 2007
Publication status: Published in Accident Analysis & Prevention, 2009, pages 430-437.
Note: Published:Svensson, M., (2009), “The value of a statistical life in Sweden: Estimates from two studies using the “Certainty Approach” calibration”, Accident Analysis & Prevention, Vol 41(3): 430-437.
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Postal: Örebro University School of Business, SE - 701 82 ÖREBRO, Sweden
Phone: 019-30 30 00
Fax: 019-33 25 46
Web page: http://www.oru.se/Institutioner/Handelshogskolan-vid-Orebro-universitet/
More information through EDIRC
Value of a Statistical Life; Contingent Valuation; Hypothetical Bias; Calibration; Certainty Approach;
Find related papers by JEL classification:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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