Estimating the value of risk reductions for car drivers when pedestrians are involved: a case study in Spain

Abstract

We estimated the benefits associated with reducing fatal and severe injuries from traffic accidents using a stated choice experiment where choice situations were generated through a statistically efficient design. Specifically, the risk variables were defined as the expected annual number of vehicle car-users that suffered their death or were severely injured in a traffic accident. In addition, and differing from previous research, the number of pedestrians that died or were severely injured in traffic accidents per year was also included as a risk attribute in the choice experiment, to attempt at measuring drivers' willingness to pay to reduce the risk of hitting pedestrians in a crash.The empirical setting was a choice of route for a particular trip that a sample of car drivers periodically undertakes in Tenerife, Spain. Models were estimated accounting for random taste heterogeneity and pseudo-panel data correlation. The median of the distribution of simulated parameters was used to obtain a representative measure for the monetary valuation of risk reductions. We found that the ratio between the values of reducing the risk of suffering a serious injury and that of reducing a fatality was approximately 18%. Further, and quite novel, we also found that the value of reducing a pedestrian fatality was 39% of the value of reducing a car occupant fatality.

Modelling parking choices considering user heterogeneity

“…Values of 1.93 and 0.53 €/h for passenger ferry transport in 2004 were found by Grisolía and Ortúzar (2010) using revealed preference (RP) data in the case of interisland travel in the Canary Islands; more recently, and in the context of a SC experiment aimed to determine the acceptability of road pricing in Las Palmas de Gran Canaria, Grisolía et al (2014) estimated a value of travel and parking time of 1.7 €/h. Also, González et al (2014) report values of 2.79 €/h for frequent highway users in a route choice context in Tenerife. Finally, Román et al (2014), in the context of the largest value of time study conducted in Spain (for the Madrid-Barcelona corridor), report values of time between 9 (for bus trips) and 18 (for air transport) €/h.…”

Increasing the acceptability of a congestion charging scheme

“…For example, Grisolia and Ortúzar (2010) estimated values, of 1.93 and 0.53 euros/hour for passenger ferry transport in 2004 using revealed preference (RP) data for interisland transport. More recent work, using SP data for the nearby island of Tenerife (González et al, 2013), estimated values of time between 2.46 (low/moderate congestion) and 2.87 (severe congestion) euros/hour. It is also important to consider that the survey was undertaken at the beginning of the recession (which should reduce WTP in general), and that the Canary Islands have one of the lowest incomes per capita in Spain, along with one of the highest unemployment rates in the country.…”

Economic valuation of preventing fatal and serious road injuries. Results of a Willingness-To-Pay study in four European countries

“…of road safety (a.o. Rizzi & Ortúzar, 2003;Henscher et al, 2009;Veisten et al, 2013;González et al, 2018), a route choice scenario was used.…”

“…In our survey each attribute can have four different levels which are presented in Table 2. While some SC studies (Veisten et al, 2013;Niroomand & Jenkins, 2016;González et al, 2018) have pivoted their choices on actual travel behavior by asking about a recent trip, this approach is not used in our survey since there is a risk that these designs induce respondents to exhibit inertia or non-trading behaviour which causes model estimation problems (Hess & Rose, 2009), as was the case for the SC study by González et al (2018). According to Pearce & Özdemiroglu (2002) the attribute levels in a SC survey should include both the current situation and realistic levels above and below the current levels.…”