TY - JOUR
T1 - Risk perceptions and value of a statistical life for air pollution and traffic accidents
T2 - Evidence from Bangkok, Thailand
AU - Vassanadumrongdee, Sujitra
AU - Matsuoka, Shunji
N1 - Funding Information:
The authors would like to thank the 21st Century Center of Excellence (COE) Program at the Graduate School for International Development and Cooperation, Hiroshima University for funding the CV survey. We are grateful to Professor Viscusi and anonymous referees for their valuable suggestions and comments.
PY - 2005/5
Y1 - 2005/5
N2 - This paper presents results of two contingent valuation surveys conducted in Bangkok measuring individuals' willingness to pay (WTP) to reduce mortality risk arising from two risk contexts: air pollution traffic accidents Results from the risk perception survey disclose that respondents view the two risks differently. WTP to reduce air pollution risk is influenced by degrees of dread, severity, controllability and personal exposure, while WTP to reduce traffic accident risk is influenced by perceived immediate occurrence. Nevertheless, the value of a statistical life (VSL) for both air pollution and traffic accidents are comparable (US$0.74 to $1.32 million and US$0.87 to $1.48 million, respectively). This indicates that the risk perception factor alone has little impact on the VSL, a finding similar to previous studies using program choice indifferences.
AB - This paper presents results of two contingent valuation surveys conducted in Bangkok measuring individuals' willingness to pay (WTP) to reduce mortality risk arising from two risk contexts: air pollution traffic accidents Results from the risk perception survey disclose that respondents view the two risks differently. WTP to reduce air pollution risk is influenced by degrees of dread, severity, controllability and personal exposure, while WTP to reduce traffic accident risk is influenced by perceived immediate occurrence. Nevertheless, the value of a statistical life (VSL) for both air pollution and traffic accidents are comparable (US$0.74 to $1.32 million and US$0.87 to $1.48 million, respectively). This indicates that the risk perception factor alone has little impact on the VSL, a finding similar to previous studies using program choice indifferences.
KW - Air pollution
KW - Contingent valuation
KW - Developing country
KW - Road traffic accident
KW - Value of statistical life
KW - Willingness-to-pay
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U2 - 10.1007/s11166-005-1155-0
DO - 10.1007/s11166-005-1155-0
M3 - Review article
AN - SCOPUS:21644486239
SN - 0895-5646
VL - 30
SP - 261
EP - 287
JO - Journal of Risk and Uncertainty
JF - Journal of Risk and Uncertainty
IS - 3
ER -
