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On the contingent valuation of safety and the safety of contingent valuation: Part 2 - The CV/SG "chained" approach

Lookup NU author(s): Professor Susan Chilton, Emeritus Professor Michael Jones-Lee, Professor Graham Loomes

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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.

Publication metadata

Author(s): Carthy T, Chilton S, Covey D, Hopkins L, Jones-Lee MW, Loomes G, Pidgeon N, Spencer A

Publication type: Article

Publication status: Published

Journal: Journal of Risk and Uncertainty

Year: 1998

Volume: 17

Issue: 3

Pages: 187-213

ISSN (print): 0895-5646

ISSN (electronic): 1573-0476

Publisher: Springer New York LLC

URL: http://dx.doi.org/10.1023/A:1007782800868

DOI: 10.1023/A:1007782800868

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