The VTI National Transport Library Catalogue

Is Transport Safety More Valuable in the Air? Carlsson, Fredrik ; Johansson-Stenman, Olof ; Martinsson, Peter

By: Carlsson, FredrikContributor(s): Johansson-Stenman, Olof | Martinsson, PeterSeries: Working Papers in Economics ; 84Publication details: Göteborg Göteborg University, 2002; Department of Economics, Description: 28 sSubject(s): Risk | Accident | Aircraft | Taxi | Passenger | Stated preference | Price | | Sweden | 841 | PrdOnline resources: Publikation/Publication Abstract: Using a contingent valuation survey, people’s willingness to pay for a given risk reduction is found to be much larger when traveling by air compared to by taxi. Follow-up questions revealed that an important reason for this discrepancy is that many experience a higher mental suffering from flying, and that they are willing to pay to reduce this suffering. It was also consistently found that people are willing to pay more for a certain risk reduction if the original price was higher. Policy implications are discussed.
Item type: Reports, conferences, monographs
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Using a contingent valuation survey, people’s willingness to pay for a given risk reduction is found to be much larger when traveling by air compared to by taxi. Follow-up questions revealed that an important reason for this discrepancy is that many experience a higher mental suffering from flying, and that they are willing to pay to reduce this suffering. It was also consistently found that people are willing to pay more for a certain risk reduction if the original price was higher. Policy implications are discussed.

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