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Willingness to pay ...
Willingness to pay for car safety : sensitivity to time framing
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- Andersson, Henrik (author)
- Statens väg- och transportforskningsinstitut,Transportekonomi Stockholm, TEK-S
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- Hammitt, James (author)
- Center for Risk Analysis, Harvard University, USA
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- Lindberg, Gunnar (author)
- Statens väg- och transportforskningsinstitut,Transportekonomi Stockholm, TEK-S
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- Sundström, Kristian (author)
- SLU
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(creator_code:org_t)
- Stockholm : Statens väg- och transportforskningsinstitut, 2008
- English 27 s.
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Series: Working Papers, Swedish National Road & Transport Research Institute (VTI) ; 2008:8
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https://vti.diva-por... (primary) (Raw object)
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Abstract
Subject headings
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- Stated preference (SP) surveys attempt to obtain monetary values for non-market goods that reflect individuals "true" preferences. Numerous empirical studies suggest that monetary values from SP studies are sensitive to survey design and so may not reflect respondents' true preferences. This study examines the effect of time framing on respondents' willingness to pay (WTP) for car safety. We explore how WTP per unit risk reduction depends on the time period over which respondents pay and face reduced risk. Using data from a Swedish contingent valuation survey, we find that WTP is sensitive to time framing; estimates based on an annual scenario are about 30 to 70 percent higher than estimates from a monthly scenario.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- Safety
- Value analysis
- Car
- Price
- Stated preference
- Mathematical model
- Statistical analysis
- Road: Economics
- Road: Economics
Publication and Content Type
- vet (subject category)
- rap (subject category)
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