SAFETYLIT WEEKLY UPDATE

We compile citations and summaries of about 400 new articles every week.
RSS Feed

HELP: Tutorials | FAQ
CONTACT US: Contact info

Search Results

Journal Article

Citation

Robles-Zurita JA. Accid. Anal. Prev. 2015; 79: 70-79.

Affiliation

Pablo de Olavide University, Department of Economics, Quantitative Methods and Economic History, Ctra. de Utrera, km. 1, 41013 Seville, Spain. Electronic address: jarobzur@upo.es.

Copyright

(Copyright © 2015, Elsevier Publishing)

DOI

10.1016/j.aap.2015.03.022

PMID

25813761

Abstract

We analyze data of a Spanish nationally-representative survey where subjects reported their willingness to pay (WTP) for road safety improvements, specifically they hypothetically paid for a reduction of the risk of a road fatality and several injuries. Respondents also reported their current income (CI) and permanent income (PI). The latter refers to their normal income once they considered various stages of low/high earnings throughout their entire lives. Consequently, we define relative income as the comparison of CI with respect to PI. Three income frames are generated as explanatory variables: gain (with CI>PI); neutral (with CI=PI); and loss scenario (with CI45), being about three or four times higher than for the younger subset. Possible interpretations of the role of PI as a reference point are considered given the results. A reference-dependent utility function of income, where PI is the reference point, is proposed to describe the monetary valuation of safety within the theoretical framework previously developed in the safety economics literature.


Language: en

NEW SEARCH


All SafetyLit records are available for automatic download to Zotero & Mendeley
Print