On the Joint Valuation of Averting Fatal and Severe Injuries in Highway Accidents

Contingent valuation and risk-risk studies have often been used to elicit the monetary value of averting fatal and severe injuries. However, these survey techniques do not represent the choice situation a driver faces when having to choose among alternative routes with different levels of safety. In this study, a stated choice Web-based survey was set up in which individuals had to choose between two routes for a hypothetical trip between two Chilean cities that different in four attributes, two of which involve safety; thus implicitly revealing their preferences for safety both in terms of reducing the number of fatal victims and of severely injured victims. The authors were able to estimate approximate values of US$300,000 and US$140,000 for a reduction in one fatality and one severely injured victim, respectively. These values are far higher than the current values derived using the human capital approach. The values in this study should also be more relevant for road planners in developing countries than transferred values from industrialized nations.

  • Availability:
  • Authors:
    • Hojman, Pablo
    • Ortuzar, Juan De Dios
    • Rizzi, Luis Ignacio
  • Publication Date: 2005

Language

  • English

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 01010891
  • Record Type: Publication
  • Files: TRIS, ATRI
  • Created Date: Nov 30 2005 10:25PM