Journal of Risk and Uncertainty

, Volume 23, Issue 2, pp 121–134

The Value of a Statistical Life in Transport: Findings from a New Contingent Valuation Study in Sweden

  • Ulf Persson
  • Anna Norinder
  • Krister Hjalte
  • Katarina Gralén
Article

DOI: 10.1023/A:1011180018244

Cite this article as:
Persson, U., Norinder, A., Hjalte, K. et al. Journal of Risk and Uncertainty (2001) 23: 121. doi:10.1023/A:1011180018244

Abstract

This article presents the results of a contingent valuation study from Sweden aimed at estimating the value of a statistical life (VOSL) in road traffic safety. Data on respondents' own subjective risk was collected by use of visual aids presented in a mail questionnaire. The relationship between willingness-to-pay (WTP) and absolute risk reduction was estimated by using a non-linear, least absolute deviation estimation method. This study generated an income-adjusted VOSL of SEK22.3 million (US$2.6 million). Analysis of WTP's sensitivity to probability variation indicates that in future studies, valuing risk reductions in road traffic, the magnitude of absolute risk and relative risk reductions to consider should be in perceptible range. On addition it should also be possible for respondents to compare the magnitudes of different risk reductions.

contingent valuationembeddingrisk reductionvalue of statistical lifewillingness-to-pay

Copyright information

© Kluwer Academic Publishers 2001

Authors and Affiliations

  • Ulf Persson
    • 1
    • 2
  • Anna Norinder
    • 3
  • Krister Hjalte
    • 4
  • Katarina Gralén
    • 2
  1. 1.IHEThe Swedish Institute for Health EconomicsLundSweden
  2. 2.Department of Technology and Society, Lund Institute of TechnologyLund UniversitySweden
  3. 3.IHEThe Swedish Institute for Health EconomicsLund
  4. 4.Department of EconomicsLund UniversitySweden