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Is Transport Safety More Valuable in the Air?

Author

Listed:
  • Fredrik Carlsson

  • Olof Johansson-Stenman
  • Peter Martinsson

Abstract

Using a contingent valuation survey, people's willingness to pay for a given risk reduction is found to be much larger, consistently more than two times as large, when traveling by air compared to by taxi. Follow-up questions revealed that an important reason for this discrepancy is that many experience a higher mental suffering from flying, and that they are willing to pay to reduce this suffering. It was also consistently found that people are willing to pay more for a certain risk reduction if the original price was higher. Policy implications are discussed.

Suggested Citation

  • Fredrik Carlsson & Olof Johansson-Stenman & Peter Martinsson, 2004. "Is Transport Safety More Valuable in the Air?," Journal of Risk and Uncertainty, Springer, vol. 28(2), pages 147-163, March.
    • Handle: RePEc:kap:jrisku:v:28:y:2004:i:2:p:147-163
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    JEL classification:

    • H00 - Public Economics - - General - - - General
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General

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