The value of improved road safety
We report the results of a contingent valuation study of the value of a serious statistical accident (VSSA) in an urban road safety context in Sweden. To account for scale bias of responses (i.e., the insensitivity of the willingness-to-pay value to the size of the risk reduction being valued) we derive a lower-bound estimate. This is computed from the willingness to pay for a private-good device or a public safety program that completely eliminates the risk of fatal and serious injury road accidents. We search for values from respondents with self- reported high confidence in their answers. Our conservative estimates result in average benefits of public road-safety measures targeting serious accidents that are greater than previous studies have indicated.
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|Date of creation:||10 Mar 2005|
|Date of revision:|
|Contact details of provider:|| Postal: Örebro University School of Business, SE - 701 82 ÖREBRO, Sweden|
Phone: 019-30 30 00
Fax: 019-33 25 46
Web page: http://www.oru.se/Institutioner/Handelshogskolan-vid-Orebro-universitet/
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