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Value of Statistical Life and Cause of Accident: A Choice Experiment

Carlsson, F; Daruvala, D and Jaldell, H (2010) In Risk Analysis: an official publication of the Society for Risk Analysis 30(6). p.975-986
Abstract
The purpose of this study is to compare the value of statistical life (VSL) estimates for traffic, drowning, and fire accidents. Using a choice experiment in a mail survey of 5,000 Swedish respondents we estimated the willingness to pay for risk reductions in the three accidents. In the experiment respondents were asked a series of questions, whether they would choose risk reducing investments where type of accident, cost of the investment, the risk reduction acquired, and the baseline risk varied between questions. The VSLs for fire and drowning accidents were found to be about 1/3 lower than that for traffic accidents. Although respondents worry more about traffic accidents, this alone cannot explain the difference in VSL estimates. The... (More)
The purpose of this study is to compare the value of statistical life (VSL) estimates for traffic, drowning, and fire accidents. Using a choice experiment in a mail survey of 5,000 Swedish respondents we estimated the willingness to pay for risk reductions in the three accidents. In the experiment respondents were asked a series of questions, whether they would choose risk reducing investments where type of accident, cost of the investment, the risk reduction acquired, and the baseline risk varied between questions. The VSLs for fire and drowning accidents were found to be about 1/3 lower than that for traffic accidents. Although respondents worry more about traffic accidents, this alone cannot explain the difference in VSL estimates. The difference between fire and drowning accidents was not found to be statistically significant. (Less)
Please use this url to cite or link to this publication:
author
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Choice experiment, drowning, fire, risk, stated preferences, statistical life, traffic
in
Risk Analysis: an official publication of the Society for Risk Analysis
volume
30
issue
6
pages
975 - 986
publisher
John Wiley & Sons
external identifiers
  • scopus:77954136987
ISSN
1539-6924
DOI
10.1111/j.1539-6924.2010.01399.x
project
BECC
language
English
LU publication?
no
id
c50de60a-eb3b-4bbc-a501-e0b97cb97e77 (old id 4448846)
date added to LUP
2014-05-23 12:11:35
date last changed
2018-06-17 04:28:03
@article{c50de60a-eb3b-4bbc-a501-e0b97cb97e77,
  abstract     = {The purpose of this study is to compare the value of statistical life (VSL) estimates for traffic, drowning, and fire accidents. Using a choice experiment in a mail survey of 5,000 Swedish respondents we estimated the willingness to pay for risk reductions in the three accidents. In the experiment respondents were asked a series of questions, whether they would choose risk reducing investments where type of accident, cost of the investment, the risk reduction acquired, and the baseline risk varied between questions. The VSLs for fire and drowning accidents were found to be about 1/3 lower than that for traffic accidents. Although respondents worry more about traffic accidents, this alone cannot explain the difference in VSL estimates. The difference between fire and drowning accidents was not found to be statistically significant.},
  author       = {Carlsson, F and Daruvala, D and Jaldell, H},
  issn         = {1539-6924},
  keyword      = {Choice experiment,drowning,fire,risk,stated preferences,statistical life,traffic},
  language     = {eng},
  number       = {6},
  pages        = {975--986},
  publisher    = {John Wiley & Sons},
  series       = {Risk Analysis:  an official publication of the Society for Risk Analysis},
  title        = {Value of Statistical Life and Cause of Accident: A Choice Experiment},
  url          = {http://dx.doi.org/10.1111/j.1539-6924.2010.01399.x},
  volume       = {30},
  year         = {2010},
}