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.
Andersson
Henrik
H
Department of Transport Economics, Swedish National Road & Transport Research Institute (VTI), PO Box 55685, SE 102 15 Stockholm, Sweden. henrik.andersson@vti.se
D000063:Accidents, Traffic / Q000191:economics* / Q000401:mortality* / Q000517:prevention & control; D000293:Adolescent; D000328:Adult; D000368:Aged; D003362:Cost-Benefit Analysis; D003625:Data Collection; D005260:Female; D006304:Health Status; D006801:Humans; D008297:Male; D008875:Middle Aged; D008954:Models, Biological; D011639:Public Opinion; D017150:Public Sector / Q000191:economics; D040242:Risk Reduction Behavior; D017751:Safety Management / Q000191:economics*; D013548:Sweden; D026712:Value of Life