Abstract
Getting insight in the value of a statistical life (VOSL) attributed by the public to a specific risk such as dying from a house fire is important for policy makers to decide upon investments in risk policies. We conduct a choice experiment among 504 Dutch citizens, including trade-offs between a reduction in the probability of dying from a house fire and tax increases, to derive the VOSL in the Dutch context of fire risk. We estimate a random parameters logit model, allowing for heterogeneity in citizen preferences. We find that after correcting for choice anomalies among respondents our VOSL estimate is around EURO 15–22 million.
| Original language | English |
|---|---|
| Article number | 106322 |
| Pages (from-to) | 1-17 |
| Number of pages | 17 |
| Journal | Safety Science |
| Volume | 169 |
| Early online date | 6 Oct 2023 |
| DOIs | |
| Publication status | Published - Jan 2024 |
Bibliographical note
Publisher Copyright:© 2023 Elsevier Ltd
Keywords
- Choice experiment
- Fire safety
- Stated preferences
- Value of a statistical life
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