Valuing self-protection: income and certification effects for safe rooms
Survey data from Tulsa, Oklahoma residents are used to examine individual valuations of safe rooms. The study utilises two measures of individual valuations, the maximum willingness to pay (WTP) and willingness to accept (WTA) for safe rooms. The primary research questions are concerned with whether the willingness to pay measure exhibits income effects and whether certification standards make the safe room investment more desirable. The main findings can be summarised as follows. The mean willingness to pay for a safe room was $2,500. The value of certification by a national organisation increased willingness to pay for the safe room by $600 on average. There is no direct income effect in that respondents' stated willingness to pay does not bear a statistically significant relationship to reported income. There is evidence of a secondary income effect in that willingness to pay elicited from attendees of a suburban parade of homes was $731 higher than attendees of an urban parade of homes. A mortgage payment-based WTA measure yields mean valuations of the safe room more than three times higher than the lump sum WTP valuation.
If 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.
Volume (Year): 24 (2006)
Issue (Month): 10 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RCME20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RCME20|
When requesting a correction, please mention this item's handle: RePEc:taf:conmgt:v:24:y:2006:i:10:p:1057-1068. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
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.