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Willingness to Pay for Road Safety and Estimates of the Risk of Death: Evidence from a Swedish Contingent Valuation Study

We examine how WTP for a reduction in road-mortality risk varies with different individual characteristics and how subjective mortality-risk estimates differ from objective (statistical) mortality-risk values. Using data from a Swedish contingent valuation study, we find some support that WTP declines with age and background risk, but we find no support that WTP varies with health status. Further, we find that respondents underassess their own mortality risks, both road- and total-mortality risks, compared to the objective risk measures for Sweden at the time of the survey.

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Paper provided by Swedish National Road & Transport Research Institute (VTI) in its series Working Papers with number 2006:5.

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Length: 31 pages
Date of creation: 04 Jul 2006
Date of revision:
Publication status: Published in Accident Analysis and Prevention, 2007, pages 853-865.
Handle: RePEc:hhs:vtiwps:2006_005
Contact details of provider: Postal: VTI, Transport Economics, P.O. Box 6056, SE-171 06 Solna, Sweden
Phone: +46-13-20 40 00
Fax: +46-13-14 14 36
Web page: http://www.vti.se/tek
Email:


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