Is Transport Safety More Valuable in the Air?
Using a contingent valuation survey, people’s willingness to pay for a given risk reduction is found to be much larger 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.
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|Date of creation:||20 Dec 2002|
|Date of revision:|
|Publication status:||Published as Carlsson, Fredrik, Olof Johansson-Stenman and Peter Martinsson, 'Is Transport Safety More Valuable in the Air?' in Journal of Risk and Uncertainty, 2004, pages 147-163.|
|Contact details of provider:|| Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden|
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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