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Valuing casualty risk reductions from estimated baseline risk

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  • Veisten, Knut
  • Flügel, Stefan
  • Rizzi, Luis I.
  • Ortúzar, Juan de Dios
  • Elvik, Rune

Abstract

Stated choice studies have been applied regularly to the valuation of time savings and other attributes of travelling as perceived by individuals. In such experiments, respondents often provide reference levels for the attributes and the hypothetical choices presented to them are pivoted around actual behaviour. However, most individuals are not able to provide reference levels for the number of casualties on the road they travel. Thus, if valuation of this important element is attempted, it is the researcher who must provide casualty risk reference levels to the respondents. Some studies have applied route choice experiments including a safety attribute but the majority has been limited to only one particular road section with a common baseline risk for all respondents.

Suggested Citation

  • Veisten, Knut & Flügel, Stefan & Rizzi, Luis I. & Ortúzar, Juan de Dios & Elvik, Rune, 2013. "Valuing casualty risk reductions from estimated baseline risk," Research in Transportation Economics, Elsevier, vol. 43(1), pages 50-61.
    • Handle: RePEc:eee:retrec:v:43:y:2013:i:1:p:50-61
    DOI: 10.1016/j.retrec.2012.12.009
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    References listed on IDEAS

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    Cited by:

    1. Naghmeh Niroomand & Glenn P. Jenkins, 2015. "Estimating the Value of Life, Injury, and Travel Time Saved Using a Stated Preference Framework," Development Discussion Papers 2015-08, JDI Executive Programs.
    2. Rosa Marina González & Concepción Román & Francisco Javier Amador & Luis Ignacio Rizzi & Juan de Dios Ortúzar & Raquel Espino & Juan Carlos Martín & Elisabetta Cherchi, 2018. "Estimating the value of risk reductions for car drivers when pedestrians are involved: a case study in Spain," Transportation, Springer, vol. 45(2), pages 499-521, March.
    3. Rizzi, Luis Ignacio & De La Maza, Cristobal, 2017. "The external costs of private versus public road transport in the Metropolitan Area of Santiago, Chile," Transportation Research Part A: Policy and Practice, Elsevier, vol. 98(C), pages 123-140.
    4. Menegaki, Angeliki, N. & Olsen, Søren Bøye & Tsagarakis, Konstantinos P., 2016. "Towards a common standard – A reporting checklist for web-based stated preference valuation surveys and a critique for mode surveys," Journal of choice modelling, Elsevier, vol. 18(C), pages 18-50.
    5. Niroomand, Naghmeh & Jenkins, Glenn P., 2018. "A comparison of stated preference methods for the valuation of improvement in road safety," Economic Analysis and Policy, Elsevier, vol. 59(C), pages 138-149.
    6. Shahram Fattahi & Somayeh Azami & Amineh Naderi, 2019. "Estimating the Value of Risk Reduction for Car Occupants," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 342-352.
    7. Agata Jazdzik-Osmolska, 2021. "Willingness to Pay for Road Safety Improvements in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 96-117.

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    More about this item

    Keywords

    Fatalities; Injuries; Mixed logit; Stated choice; Value of statistical life; Willingness to pay;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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