Willingness to pay for car safety: Evidence from Sweden

Environmental and Resource Economics

Volumn 41, Issue 4, 2008, Pages 579-594

  Andersson, Henrik ^a  

^a SWEDISH NATIONAL ROAD AND TRANSPORT RESEARCH INSTITUTE   (Sweden)

Author keywords

Background risk; Car safety; Hedonic pricing; Non marginal willingness to pay

Indexed keywords

ECONOMICS; RISK PERCEPTION;

BACKGROUND RISKS; CAR MARKETS; CAR SAFETY; HEDONIC PRICING; MONETARY VALUE; MORTALITY RISK; RISK REDUCTIONS; WILLINGNESS TO PAY;

SAFETY ENGINEERING;

AUTOMOBILE; HAZARD MANAGEMENT; MORTALITY; TRANSPORTATION SAFETY; WILLINGNESS TO PAY;

EID: 55949115573     PISSN: 09246460     EISSN: None     Source Type: Journal    
DOI: 10.1007/s10640-008-9213-0     Document Type: Article

References (62)

1. A Alberini M Cropper A Krupnick NB Simon 2004 Does the value of a statistical life vary with the age and health status?: evidence from the USA and Canada J Environ Econ Manag 48 1 769 792
2. A Alberini A Hunt A Markandya 2006 Willingness to pay to reduce mortallity risks: evidence from a three-country contingent valuation study Environ Resour Econ 33 2 251 264
3. JE Aldy WK Viscusi 2007 Age differences in the value of statistical life: revealed preference evidence Rev Environ Econ Policy 1 2 241 260
4. H Andersson 2005 The value of safety as revealed in the Swedish car market: an application of the hedonic pricing approach J Risk Uncertain 30 3 211 239
5. Andersson H (2005b) Willingness to pay for a reduction in road mortality risk: evidence from Sweden. Ph.D. Thesis, Lund Economic Studies 126, Department of Economics, Lund University, Lund, Sweden
6. H Andersson 2007 Willingness to pay for road safety and estimates of the risk of death: evidence from a Swedish contingent valuation study Accid Anal Prevention 39 4 853 865
7. Andersson H, Treich N (2008) The value of a statistical life. In: de Palma A, Lindsey R, Quinet E, Vickerman R (eds), Handbook transport economics. Edward Elgar, Forthcoming.
8. O Armantier N Treich 2004 Social willingness to pay, mortality risks and contingent valuation J Risk Uncertain 29 1 7 19
9. SE Atkinson R Halvorsen 1990 The valuation of risks to life: evidence from the market for automobiles Rev Econ Stat 72 1 133 136
10. TJ Bartik 1987 Estimating hedonic demand parameters with single market data: the problem caused by unobserved tastes Rev Econ Stat 69 1 178 180
11. TJ Bartik 1987 The estimation of demand parameters in hedonic models J Polit Econ 95 1 81 88
12. H Bleichrodt L Eeckhoudt 2006 Willingness to pay for reductions in health risks when probabilities are distorted Health Econ Lett 15 2 211 214
13. JN Brown HS Rosen 1982 On the estimation of structural hedonic price models Econometrica 50 3 765 768
14. B Day I Bateman I Lake 2007 Beyond implicit prices: recovering theoretically consistent and transferable values for noise avoidance from a hedonic property price model Environ Resour Econ 37 1 211 232
15. DB Diamond BA Smith 1985 Simultaneity in the market for housing characteristics J Urban Econ 17 3 280 292
16. MK Dreyfus WK Viscusi 1995 Rates of time preference and consumer valuations of automobile safety and fuel efficiency J Law Econ 38 1 79 105
17. J Dréze 1962 L'Utilité Sociale d'une Vie Humaine Revue Française de Reserche Opérationnelle 6 93 118
18. LR Eeckhoudt JK Hammitt 2001 Background risks and the value of a statistical life J Risk Uncertain 23 3 261 279
19. LR Eeckhoudt JK Hammitt 2004 Does risk aversion increase the value of mortality risk? J Environ Econ Manag 47 1 13 29
20. I Ekeland JJ Heckman L Nesheim 2002 Identifying hedonic models Am Econ Rev 92 2 304 309
21. I Ekeland JJ Heckman L Nesheim 2004 Identification and estimation of hedonic models J Polit Econ 112 1 60 109
22. D Epple 1987 Hedonic prices and implicit markets: estimating demand and supply functions for differentiated products J Polit Econ 95 1 59 80
23. T Eshet MG Baron M Shechter 2007 Exploring benefit transfer: disamenities of waste transfer stations Environ Resour Econ 37 3 521 547
24. AM Freeman 1974 Air pollution and property values: a further comment Rev Econ Stat 56 554 556
25. Freeman AM (2003) The measurement of environmental and resource values, 2nd edn. Resources for the Future, Washington DC
26. T Gayer JT Hamilton WK Viscusi 2000 Private values of risk tradeoffs at superfund sites: housing market evidence on learning about risk Rev Econ Stat 82 3 439 451
27. JK Hakes WK Viscusi 2004 Dead reckoning: demographic determinants of the accuracy of mortality risk perception Risk Anal 24 3 651 664
28. JK Hammitt 2000 Evaluating contingent valuation of environmental health risks: the proportionality test AERE Newsl 20 1 14 19
29. JK Hammitt 2000 Valuing mortality risk: theory and practice Environ Sci Technol 34 8 1396 1400
30. JK Hammitt 2002 QALYs versus WTP Risk Anal 22 5 985 1001
31. JK Hammitt JD Graham 1999 Willingness to pay for health protection: inadequate sensitivity to probability? J Risk Uncertain 18 1 33 62
32. JK Hammitt Y Zhou 2006 The economic value of air-pollution-related health risks in China: a contingent valuation study Environ Resour Econ 33 3 399 423
33. P-O Johansson 2002 On the definition and age-dependency of the value of a statistical life J Risk Uncertain 25 3 251 263
34. O Johansson-Stenman P Martinsson 2006 Honestly, why are you driving a BMW? J Econ Behav Organ 60 2 129 146
35. MW Jones-Lee 1974 The value of changes in the probability of death or injury J Polit Econ 82 4 835 849
36. S Kahn K Lang 1988 Efficient estimation of structural hedonic systems Int Econ Rev 29 1 157 166
37. Kahneman D, Slovic P, Tversky A (1982) Judgement under uncertainty: heuristics and biases. Cambridge University Press, New York
38. A Krupnick 2007 Mortality risk valuation and age: stated preference evidence Rev Environ Econ Policy 1 2 261 282
39. P Le Goffe 2000 Hedonic pricing of agriculture and forestry externalities Environ Resour Econ 15 4 397 401
40. S Lichtenstein P Slovic B Fischoff M Layman B Combs 1978 Judged frequency of lethat events J Exp Psychol: Human Learn Memory 4 6 551 578
41. JR Mrozek LO Taylor 2002 What determines the value of life? a meta-analysis J Policy Anal Manag 21 2 253 270
42. RL Ohsfeldt BA Smith 1985 Estimating the demand for heterogenous goods Rev Econ Stat 67 1 165 171
43. Palmquist RB (1991) Hedonic methods. In: Braden JB, Kolstad CD(eds) Measuring the demand for environmental quality. Elsevier Science Publishers (North-Holland), Amsterdam, pp 77-120
44. U Persson A Norinder K Hjalte K Gralén 2001 The value of a statistical life in transport: findings from a new contingent valuation study in Sweden J Risk Uncertain 23 2 121 134
45. JW Pratt RJ Zeckhauser 1996 Willingness to pay and the distribution of risk and wealth J Polit Econ 104 4 747 763
46. D Prelec 1998 The probability weighting function Econometrica 66 3 497 527
47. S Rosen 1974 Hedonic prices and implicit markets: product differentiation in pure competition J Polit Econ 82 1 34 55
48. S Rosen 1988 The value of changes in life expectancy J Risk Uncertain 1 3 285 304
49. SCB and SIKA (1999) Vägtrafikskador 1998. Sveriges officiella statisitk, SCB (Statistics Sweden) and SIKA (Swedish Institute for Transport and Communications Analysis). ISSN 1404-4625
50. DS Shepard RJ Zeckhauser 1984 Survival versus consumption Manag Sci 30 4 423 439
51. FA Sloan WK Viscusi HW Chesson CJ Conover K Whetten-Goldstein 1998 Alternative approaches to valuing intangible health losses: the evidence for multiple sclerosis J Health Econ 17 4 475 497
52. VK Smith MF Evans H Kim DH Taylor 2004 Do the near-elderly value mortality risks differently? Rev Econ Stat 86 1 423 429
53. J Strand 2006 Valuation of environmental improvements in continouos time with mortality and morbidity effects Resour Energy Econ 28 3 229 241
54. Tauchen H, Witte AD (2001) Estimating hedonic models: implications of the theory. Technical Working Paper Series 271, National Bureau of Economic Research, Cambridge
55. Viscusi WK (1992) Fatal tradeoffs: public & private responsibilities for risk. Oxford University Press, New York
56. WK Viscusi JE Aldy 2003 The value of a statistical life: a critical review of market estimates throughout the world J Risk Uncertain 27 1 5 76
57. WK Viscusi WN Evans 1990 Utility functions that depend on health status: estimates and economic implications Am Econ Rev 81 3 353 374
58. Viscusi WK, Magat WA (1987) Learning about risk: consumer and worker response to hazard warnings. Harvard University Press, Cambridge
59. von Neumann J, Morgenstern O (1953) Theory of games and economic behavior, 3rd edn. Princeton University Press, New York
60. MC Weinstein DS Shepard JS Pliskin 1980 The economic value of changing mortality probabilities: a decision-theoretic approach Q J Econ 94 2 373 396
61. M Wilhelmsson 2000 The impact of traffic noise on the values of single-family houses J Environ Plan Manag 43 6 799 815
62. Wooldridge JM (2003) Introductory econometrics: a modern approach, 2nd edn. Thomson, Mason