The willingness to accept value of statistical life relative to the willingness to pay value: Evidence and policy implications

Environmental and Resource Economics

Volumn 32, Issue 1, 2005, Pages 113-127

  Guria, Jagadish ^a   Leung, Joanne ^a   Jones Lee, Michael ^b   Loomes, Graham ^c  

^a Land Transport Safety Authority New Zealand   (New Zealand)

^b NEWCASTLE UNIVERSITY   (United Kingdom)

^c UNIVERSITY OF EAST ANGLIA   (United Kingdom)

Author keywords

Safety policy; Willingness to accept disparity

Indexed keywords

ACCIDENT PREVENTION; ECONOMICS; PROJECT MANAGEMENT; STANDARDS; STATISTICAL METHODS;

ECONOMIC THEORY; SAFETY POLICY; WILLINGNESS TO ACCEPT DISPARITY;

PUBLIC POLICY;

QUESTIONNAIRE SURVEY; RISK PERCEPTION; TRANSPORTATION SAFETY; WILLINGNESS TO PAY;

AUSTRALASIA; EASTERN HEMISPHERE; NEW ZEALAND; WORLD;

EID: 24044544252     PISSN: 09246460     EISSN: None     Source Type: Journal    
DOI: 10.1007/s10640-005-6030-6     Document Type: Article

References (15)

1. J. Baron J. Greene 1996 'Determinants of Insensitivity to Quantity in Valuation of Public Goods: Contribution, Warm Glow, Budget Constraints, Availability and Prominence' Journal of Experimental Psychology: Applied 2 107 125
2. I. J. Bateman A. Munro B. Rhodes C. Starmer R. Sugden 1997 'A Test of the Theory of Reference-Dependent Preferences' Quarterly Journal of Economics 112 2 479 505
3. J. Beattie J. Covey P. Dolan L. Hopkins M. Jones-Lee N. Pidgeon a. Robinson A. Spencer 1998 'The Contingent Valuation of Safety and the Safety of Contingent Valuation, Part 1: Caveat Investigator' Journal of Risk and Uncertainty 17 5 25
4. Burton A., S. Chilton and M. Jones (2000), 'The WTA/WTP Discrepancy - A Preliminary Qualitative Examination', Environmental Values 9, 481-491.
5. D. L. Coursey J. L. Hovis W. D. Schulze 1987 'The Disparity Between Willingness to Accept and Willingness to Pay Measures of Value' Quarterly Journal of Economics 102 3 679 690
6. W. R. Dubourg M. Jones-Lee G. Loomes 1997 'Imprecise Preferences and Survey Design in Contingent Valuation' Economica 64 681 702
7. Guria, J. C, W. Jones, M. W. Jones-Lee, J. Leung, G. Loomes and M. Keall (1999), The Values of Statistical Life and Prevention of Injuries. Draft Report.
8. W. M. Hanemann 1991 'Willingness To Pay and Willingness To Accept: How Much Can They Differ?' American Economic Review 81 3 635 646
9. D. Kahneman J. L. Knetsch R. H. Thaler 1990 'Experimental Tests of the Endowment Effect and the Coase Theorem' Journal of Political Economy 98 1325 1348
10. D. Kahneman I. Ritov D. Schkade 1999 'Economic Preferences or Attitude Expressions? An Analysis of Dollar Responses to Public Issues' Journal of Risk and Uncertainty 19 203 235
11. A. Krupnick A. Alberini M. Cropper N. Simon B. O'Brien R. Goeree M. Heintzelman 2002 'Age, Health and the Willingness To Pay for Mortality Risk Reductions: A Contingent Valuation Study of Ontario Residents' Journal of Risk and Uncertainty 24 161 186
12. T. R. Miller J. C. Guria 1991 The Value of Statistical Life in New Zealand: Market Research on Road Safety Land Transport Division, Ministry of Transport Wellington
13. J. F. Shogren S. Y. Shin D. J. Hayes J. B. Kliebenstein 1994 'Resolving Differences in Willingness to Pay and Willingness to Accept' American Economic Review 84 1 255 270
14. Sugden, R. (1999), 'Public Goods and Contingent Valuation', Chapter 5, pp. 131 - 152, and 'Alternatives to the Neo-classical Theory of Choice', Chapter 6, pp. 152 - 181 in I. Bateman I and K. Willis, eds., Valuing Environmental Preferences. Oxford: Oxford University Press.
15. A. Tversky D. Kahneman 1991 'Loss Aversion in Riskless Choice: A Reference-Dependent Model' Quarterly Journal of Economics 106 1039 1061