2015
DOI: 10.1080/01441647.2015.1025454
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The Value of a Statistical Life in a Road Safety Context — A Review of the Current Literature

Abstract: This paper summarizes the state-of-the-art for assessing the value of a statistical life (VSL) as a component of the costs of road accidents. It focuses on the most popular approaches for assessing the VSL, with respect to its theoretical foundations, current state-of-research and empirical evidence. Our paper also provides a first (to our knowledge) compendium of results for the VSL based on Stated Choice (SC) methods. Among the analysed alternatives, the willingness-to-pay (WTP) appears to be the leading app… Show more

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Cited by 27 publications
(25 citation statements)
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“…We opt for the 'driver' formulation used by Mouter et al (2017) not only because it is by far the most frequently used approach for consumer experiments in the literature (e.g. Abrantes and Wardman, 2011;Bahamonde-Birke et al, 2015;Batley et al in press;Börjesson and Eliasson, 2014;Ehreke et al, 2015;Hensher et al, 2009;Kouwenhoven et al, 2014;Rizzi et al, 2003), but this format also shows most resemblance with the citizen experiments. However, the experimental set-up in the present study deviates somewhat from the original design of Mouter et al (2017) in that respondents completed both driver and citizen choice tasks and were asked to provide verbal motivations for their choices.…”
Section: Methodsmentioning
confidence: 99%
“…We opt for the 'driver' formulation used by Mouter et al (2017) not only because it is by far the most frequently used approach for consumer experiments in the literature (e.g. Abrantes and Wardman, 2011;Bahamonde-Birke et al, 2015;Batley et al in press;Börjesson and Eliasson, 2014;Ehreke et al, 2015;Hensher et al, 2009;Kouwenhoven et al, 2014;Rizzi et al, 2003), but this format also shows most resemblance with the citizen experiments. However, the experimental set-up in the present study deviates somewhat from the original design of Mouter et al (2017) in that respondents completed both driver and citizen choice tasks and were asked to provide verbal motivations for their choices.…”
Section: Methodsmentioning
confidence: 99%
“…unspecified) life. The valuation occurs ex ante, before the incident occurs: it is the willingness to pay for reducing the probability of becoming a victim that is estimated [5]. Methods to asses this trade-off are based on actual behaviour (revealed preference) or by surveys in which respondents are asked how much they would pay for more safety (stated preference).…”
Section: Different Approaches To Estimate Human Costs 411 Willingnementioning
confidence: 99%
“…Especially stated preference methods where the trade-off between money and risk reduction is simulated by questionnaires in which people are asked how much they would pay for more safety, are prone to several potential biases. This leads to a large variability of results [5,6]. Furthermore, a WTP study only provides global information and cannot reflect the great diversity of types of road injuries, their severity and health consequences.…”
Section: A Comparison Between Different Approachesmentioning
confidence: 99%
“…Therefore, methods based on stated preferences have been developed in which respondents are asked to state their willingness to pay for health improvements in hypothetical situations (e.g. Bahamonde-Birke, Kunert, & Link, 2015).…”
Section: Approaches To Cost Calculationsmentioning
confidence: 99%