Contingent Valuation, Transport Safety and the Value of Life / Edition 1

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Over the past twenty years economic theory has extended its field of application to include non-market goods such as environmental resources and health. Although it is impossible to assign a price to these goods on the basis of market mechanisms alone, the fact that they have no price does not mean that they have no value. One technique in which economists have shown a marked interest is the contingent valuation method (CVM). CVM has mainly been used to assign a monetary value to environmental goods. It was first applied to natural resources used for recreational purposes. Only recently has CVM been applied to health. Studies in this field are thus relatively scarce compared to those dealing with the environment, although several valuation methodology surveys are already available. So far, however, no book has brought together and analysed recent contingent valuations in the field of transport accidents. Contingent Valuation, Transport Safety and the Value of Life provides an overview of the experiments conducted in Europe (Denmark, France, the United Kingdom, Sweden and Switzerland). While a number of contributions are critical, others show how the estimates obtained in the area of road transport can be used to assess adverse health effects due to other causes, such as public transport accidents or air pollution.
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Editorial Reviews

Nine papers from the October 1994 Valuing the Consequences of Road Accidents conference in Neuchatel, Switzerland, report on experiments in several European countries which applied to injury and death from transport accidents, a method developed to assign value to environmental resources and health. They focus on theoretical and methodological themes, the papers reporting actual results in the various countries to be published in a forthcoming volume. The topics include the contingent method, reference values for human life, different values from theoretically equivalent methods, and preference-based values for public transportation. No index. Annotation c. Book News, Inc., Portland, OR (
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Product Details

  • ISBN-13: 9780792395782
  • Publisher: Springer Netherlands
  • Publication date: 5/19/1995
  • Series: Studies in Risk and Uncertainty Series , #7
  • Edition description: 1995
  • Edition number: 1
  • Pages: 193
  • Product dimensions: 0.56 (w) x 9.21 (h) x 6.14 (d)

Table of Contents

Foreword. 1. Introduction; N.C. Soguel. 2. The Valuation of Human Costs by the Contingent Method: The Swiss Experience; N.G. Schwab Christe. 3. Assessing the Value of Traffic Safety Using the Contingent Valuation Technique: The Danish Survey; K. Kidholm. 4. Valuing the Benefits of Reducing the Risk of Non-Fatal Road Injuries: The Swedish Experience; U. Persson, A. Lugnér Norinder, M. Svensson. 5. Reference Values for Human Life: An Econometric Analysis of a Contingent Valuation in France; B. Desaigues, A. Rabl. 6. Why did Two Theoretically Equivalent Methods Produce Two Very Different Values? M.W. Jones-Lee, G. Loomes, A. Robinson. 7. Are Preferences for Safety too Imprecise for Contingent Valuation? W.R. Dubourg. 8. Preference-Based Values of Safety for Public Transport Modes; M.W. Jones-Lee, G. Loomes. 9. The Automobile Risk Metric for Valuing Health Risks; W.K. Viscusi.

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