On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 2 - The CV/SG "Chained" Approach |
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| Authors: | CARTHY TREVOR CHILTON SUSAN COVEY JUDITH HOPKINS LORRAINE JONES-LEE MICHAEL LOOMES GRAHAM PIDGEON NICK SPENCER ANNE |
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| Institution: | (1) University of Newcastle upon Tyne, UK;(2) University of York, UK;(3) University of Wales, Bangor |
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| Abstract: | This article reports the results of a study aimed at estimating a willingness-to-pay based value of statistical life for road risks using a multi-stage approach which involves "chaining together" responses to contingent valuation and standard gamble questions.The rationale for employing a multi-stage approach is to break the wealth/risk of death trade-off down into a number of conceptually manageable steps, thereby trying to attenuate the various biases that appear to be pervasive in responses to more direct contingent valuation questions in the health and safety field. |
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| Keywords: | Safety contingent valuation standard gambles embedding scope sequencing |
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