Risk perceptions and value of a statistical life for air pollution and traffic accidents: Evidence from Bangkok, Thailand

Sujitra Vassanadumrongdee, Shunji Matsuoka

Research output: Contribution to journalReview articlepeer-review

58 Citations (Scopus)

Abstract

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.

Original languageEnglish
Pages (from-to)261-287
Number of pages27
JournalJournal of Risk and Uncertainty
Volume30
Issue number3
DOIs
Publication statusPublished - 2005 May
Externally publishedYes

Keywords

  • Air pollution
  • Contingent valuation
  • Developing country
  • Road traffic accident
  • Value of statistical life
  • Willingness-to-pay

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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