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Estimating the Value of Statistical Life in Road Safety Improvement: The Case study of Tabriz

Author

Listed:
  • Naderi, Amineh

    (Ph.D Candidate in Economics, Razi University)

  • Fattahi, Shahram

    (Associate Professor of Economics, Razi University)

  • Azami, Somayeh

    (Assistant Professor of Economics, Razi University)

  • Golestani, Mina

    (Assistant Professor of Pharmacoeconomics and Pharmaceutical, Road Accident Injury Research Center, Tabriz University of Medical Sciences)

Abstract

With respect to the rapid development of the road transport industry, improving safety and valuing accidents have become an essential issue in public policy. Over the past few decades, studies based on the estimation of valuing statistical life have played a unique role in the cost-benefit estimations of investment in the transport sector. In this regard, this study has been conducted using the stated choice method and the mixed logit model to examine the willingness to pay and the value of statistical life among the Tabriz drivers. The research data were collected through a questionnaire from 300 people who travel daily in the city for various reasons. The statistical value of life and injury for Tabriz city was 18663384 and 135005 Tomans respectively. According to the results, investing in road safety improvement projects is necessary to reduce casualties and injuries

Suggested Citation

  • Naderi, Amineh & Fattahi, Shahram & Azami, Somayeh & Golestani, Mina, 2019. "Estimating the Value of Statistical Life in Road Safety Improvement: The Case study of Tabriz," Quarterly Journal of Applied Theories of Economics, Faculty of Economics, Management and Business, University of Tabriz, vol. 5(4), pages 107-142, February.
    • Handle: RePEc:ris:qjatoe:0130
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    More about this item

    Keywords

    Willingness to pay; Choice experiment; Value of statistical life;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • 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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