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

Andersson, Henrik (2013) Consistency in preferences for road safety: An analysis of precautionary and stated behavior. Research in Transportation Economics, 43 (1). pp. 41-49.

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Official URL: http://tse-fr.eu/pub/27259

Abstract

This study analyzes stated willingness to pay (WTP) for traffic safety, the use of traffic 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.

Item Type: Article
Date: July 2013
Refereed: Yes
JEL codes: D61 - Allocative Efficiency; Cost-Benefit Analysis
J17 - Value of Life; Forgone Income
R41 - Transportation - Demand, Supply, and Congestion; Safety and Accidents; Transportation Noise
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 09 Jul 2014 17:36
Last Modified: 07 Mar 2018 13:22
OAI ID: oai:tse-fr.eu:27259
URI: http://publications.ut-capitole.fr/id/eprint/15651

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