IDEAS home Printed from https://ideas.repec.org/p/ags/feemth/254045.html

A Novel Approach to Estimating the Demand Value of Road Safety

Author

Listed:
  • Rheinberger, Christoph M.
  • Schläpfer, Felix
  • Lobsiger, Michael

Abstract

We estimate the demand value of road safety improvements in Switzerland from survey data using a novel elicitation approach. Individuals’ responses to questions about how much public spending on road safety should be increased are combined with observations of income, tax rate, and road usage to estimate the economic value of a statistical accident avoided. Information obtained from a risk-risk tradeoff elicitation allows us to distinguish willingness-to-pay values for various degrees of accident severity. Our most comprehensive estimate of the value of a statistical accident avoided amounts to CHF 11.0 million ($11.6 million); the corresponding value per statistical life is close to CHF 4.2 million ($4.5 million). We explore the sensitivity of these estimates to anchoring and other framing effects and find that the popularity of specific road safety programs is influenced by both the availability of different choice options and the provision of partisan cues expressing political endorsement or opposition.

Suggested Citation

  • Rheinberger, Christoph M. & Schläpfer, Felix & Lobsiger, Michael, "undated". "A Novel Approach to Estimating the Demand Value of Road Safety," ETA: Economic Theory and Applications 254045, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemth:254045
    DOI: 10.22004/ag.econ.254045
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/254045/files/NDL2017-015.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.254045?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    ;

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:feemth:254045. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/feemmit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.