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Publication type: Article in scientific journal
Type of review: Peer review (publication)
Title: A comparison of stated preference methods for the valuation of improvement in road safety
Authors: Niroomand, Naghmeh
Jenkins, Glenn P.
et. al: No
DOI: 10.1016/j.eap.2018.06.006
Published in: Economic Analysis and Policy
Volume(Issue): 59
Page(s): 138
Pages to: 149
Issue Date: 2018
Publisher / Ed. Institution: Elsevier
ISSN: 0313-5926
Language: English
Subjects: Cyprus; Car driver; Contingent valuation method; Choice experiment method; Environmental services and goods; Road safety improvement; Willingness to pay
Subject (DDC): 363: Environmental and security problems
Abstract: Excerpt of the introduction: [...] This study estimates car drivers’ willingness to pay (WTP) for road safety improvements in North Cyprus. The contingent valuation method (CVM) and choice experiment (CE) methods were used to estimate the welfare change for identical road safety improvements where different attributes were used in the utility functions as the basis for calculating welfare change estimates [...]. In the CVM survey, car drivers were asked directly to state their maximum WTP for the non-market value of road safety, in which demand is unobservable. In the CE survey, car drivers were asked to choose between different alternative scenarios of types of roads and safety features. These choice sets were varied according to a statistical design in order to maximize the precision of the estimates. The paper is organized in five further sections. Section 2 analyzes the econometric method and specification, while Section 3 presents the CE and CVM design. Section 4 describes the econometric analysis. Section 5 provides the resulting model estimates, and Section 6 closes the paper with a discussion and briefly presents our conclusion.
Fulltext version: Accepted version
License (according to publishing contract): CC BY-NC-ND 4.0: Attribution - Non commercial - No derivatives 4.0 International
Departement: School of Management and Law
Organisational Unit: Center for Economic Policy (FWP)
Appears in collections:Publikationen School of Management and Law

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