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Consistency in preferences for road safety: An analysis of precautionary and stated behavior

  • Andersson, Henrik

This study analyzes stated willingness to pay (WTP) for trafic safety, the use of trafic safety equipments, and the consistency between the two. Using data from a Swedish contingent valuation study we find that the estimated value of a statistical life (VSL) based on the respondents' rear- seatbelt usage is similar to the estimate found using the respondents' stated WTP. However, when estimating VSL based on the respondents' use of bicycle helmets we find a significantly higher VSL; the VSL from bicycle-helmet usage is 7 times higher than the estimate based on seatbelt usage. Moreover, we do not find any strong relationship between risk perception and usage, or individual stated WTP and usage. Hence, the main conclusion, based on our analysis, is that stated and observed WTP are not consistent.

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Paper provided by Toulouse School of Economics (TSE) in its series TSE Working Papers with number 12-359.

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Date of creation: Nov 2012
Date of revision:
Publication status: Published in Research in Transportation Economics, vol.�43, n°1, juillet 2013, p.�41-49.
Handle: RePEc:tse:wpaper:26572
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  1. ANDERSSON Henrik & TREICH Nicolas, 2009. "The Value of a Statistical Life," LERNA Working Papers 09.04.280, LERNA, University of Toulouse.
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  11. An, Mark Yuying, 1996. "Semiparametric Estimation of Willingness to Pay Distributions," Working Papers 96-20, Duke University, Department of Economics.
  12. Andersson, Henrik, 2006. "Willingness to Pay for Road Safety and Estimates of the Risk of Death: Evidence from a Swedish Contingent Valuation Study," Working Papers 2006:5, Swedish National Road & Transport Research Institute (VTI).
  13. Hammitt James K. & Robinson Lisa A, 2011. "The Income Elasticity of the Value per Statistical Life: Transferring Estimates between High and Low Income Populations," Journal of Benefit-Cost Analysis, De Gruyter, vol. 2(1), pages 1-29, January.
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