Is Transport Safety More Valuable in the Air?
- Fredrik CarlssonAffiliated withDepartment of Economics, Göteborg University Email author
- , Olof Johansson-StenmanAffiliated withDepartment of Economics, Göteborg University
- , Peter MartinssonAffiliated withDepartment of Economics, Göteborg University
Rent the article at a discountRent now
* Final gross prices may vary according to local VAT.Get Access
Using a contingent valuation survey, people's willingness to pay for a given risk reduction is found to be much larger, consistently more than two times as large, when traveling by air compared to by taxi. Follow-up questions revealed that an important reason for this discrepancy is that many experience a higher mental suffering from flying, and that they are willing to pay to reduce this suffering. It was also consistently found that people are willing to pay more for a certain risk reduction if the original price was higher. Policy implications are discussed.
- Is Transport Safety More Valuable in the Air?
Journal of Risk and Uncertainty
Volume 28, Issue 2 , pp 147-163
- Cover Date
- Print ISSN
- Online ISSN
- Kluwer Academic Publishers
- Additional Links
- contingent valuation
- value of a statistical life
- willingness to pay
- bad deaths
- Industry Sectors