The value of statistical life in fatal injury cases among drivers in Malaysia: conjoint analysis method
In recent years, traffic accidents in Malaysia have caused a significant loss in terms of money, grief and suffering. To compensate for the social loss resulting from road accidents, the human costs that account for pain, grief, and suffering are usually added to the total accident costs for each severity type. This study adopts the method of valuation of statistical life (VOSL) to determine the associated pain, grief, and suffering costs resulting from road accidents. VOSL can be described as the monetary value of a fatality risk reduction that would prevent one statistical life. This study focuses on car drivers and motorcyclists in Malaysia as the subjects of the population. The focus of this report is to investigate the VOSL with regard to fatal injuries. The main objective of this research is to determine the VOSL for fatal injuries in every state in Malaysia. These VOSL are meant for car drivers and motorcyclists. Furthermore, we would like to examine the relationship of age, income, gender, race as well as other demographic factors to the value of the Willingness to pay (WTP). The result of this study shows that the VOSL for fatal injuries to car drivers and motorcyclists in every state in Malaysia are rather comparable. For car drivers, the results range between RM 1,300,000 to RM 1,700,000. On the other hand, the motorcyclists are valued from RM 1,000,000 to RM 1,300,000.The VOSL estimates for Malaysian car drivers and motorcyclists are approximated to be at RM 1,450,000 and RM 1,150,000 respectively.
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Availability:
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Corporate Authors:
Malaysian Institute of Road Safety Research
Lot 125-135, Jalan TKS 1, Taman Kajang Sentral
43000 Kajang, Selangor Darul Ehsan Malaysia -
Authors:
- Yusoff, M F
- Mohamad, N A
- Abidin, N Z
- Nor, N G
- Salleh, H
- Publication Date: 2013
Language
- English
Media Info
- Pagination: 46p
Subject/Index Terms
- TRT Terms: Crash analysis; Drivers; Fatalities; Motorcyclists; Statistical analysis; Value of life
- Geographic Terms: Malaysia
- ATRI Terms: Crash analysis; Crash costs; Driver; Fatality; Motorcyclist; Statistical analysis; Value of life
- Subject Areas: Data and Information Technology;
Filing Info
- Accession Number: 01562828
- Record Type: Publication
- Source Agency: ARRB
- ISBN: 9789675967214
- Files: ATRI
- Created Date: May 12 2015 3:55PM