ISSN:
1573-0476
Keywords:
safety
;
willingness to pay
;
altruism
;
environment
;
traffic
;
D61
;
D91
;
H51
;
I10
;
I12
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract In this study, one group of respondents is offered to purchase a safety device to be installed in their cars, while another group is offered a public safety program (improved road quality) which results in the same size risk reduction. In terms of the value of a statistical life, our results are very reasonable. However, the WTP for the private safety device ishigher than the WTP for the public safety measure. Drawing on a model developed by Jones-Lee (1991), we show that some types of altruists may, but need not, be willing to pay more for a private risk reduction than for a uniform risk reduction of the same magnitude. Still, our empirical results are surprising, and further empirical research seems warranted.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF00056156
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