By Nils C. Soguel (auth.), Nathalie G. Schwab Christe, Nils C. Soguel (eds.)
Over the earlier 20 years, fiscal concept has prolonged its box of software to non-market items reminiscent of environmental assets and overall healthiness. even though it is most unlikely to assign a cost to those items at the foundation of industry mechanisms by myself, the truth that they've got no fee doesn't suggest that they've no price. One strategy during which economists have proven a marked curiosity is the contingent valuation strategy (CVM), which has customarily been used to assign a financial worth to environmental items. It was once first utilized to normal assets used for leisure reasons. CVM has been utilized to overall healthiness only in the near past, in order that reviews during this box are particularly extra scarce than these facing the surroundings, even supposing numerous valuation technique surveys can be found.
There has hitherto been no e-book which has drawn jointly and analyzed fresh contingent valuations within the box of delivery injuries. Contingent Valuation, shipping protection and the worth of Life presents an summary of the experiments carried out in Europe (Denmark, France, the U.K., Sweden and Switzerland). whereas a few contributions are serious, others convey how the estimates acquired within the region of highway shipping can be utilized to evaluate the antagonistic healthiness results of alternative reasons, corresponding to public shipping injuries or pollution.
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Extra resources for Contingent Valuation, Transport Safety and the Value of Life
B. How much are you absolutely not willing to pay? C. ' If the respondents answered "DKK 0" to question C, the respondents were asked why they were unwilling to pay. When asked the questions A to C 48 KRISTIAN KIDHOLM the respondent was given a list of possible WTP amounts ranging from 0 to DKK20,0002. The value of a reduction in the risk of non-fatal injuries was estimated using three questions about WTP for reduction in the risk of a slight, a serious and a very serious injury: Wrist fracture, shin fracture and open fracture of the femoral bone.
For each injury category it was also necessary to ensure that rigorous use was made of the same description criteria. Particular care had to be taken with the wording so as to avoid excessive emotional reactions5 . In addition, these two problems were compounded by a third. This concerned the lack of reliable official statistics recording the number of road accident victims by injury severity. Faced with these gaps in the statistics, we had planned to resort to primary data. However, after failing to find other sources of information, we were compelled to find a solution that was simple, economical and, last but not least, reliable.
When asked about their absolute risk the results in Table I were obtained. 0 Willingness to pay estimates The answers to questions about mlDlmum and maximum WTP for a reduction in the risk of fatal and non-fatal injuries in traffic accidents are presented in Table II and Table III. Respondents who stated that the reason for not being willing to pay was that the respondent did not understand the question are excluded from the tables. Approximately 10 respondents gave this answer. In order to facilitate comparisons, WTP for an airbag is converted to annual WTP by dividing the total WTP with the remaining number of years the respondents expected to use their cars.
Contingent Valuation, Transport Safety and the Value of Life by Nils C. Soguel (auth.), Nathalie G. Schwab Christe, Nils C. Soguel (eds.)