Lookup NU author(s): Professor Susan Chilton,
Emeritus Professor Michael Jones-Lee,
Professor Graham Loomes
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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.
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
ISSN (print): 0895-5646
ISSN (electronic): 1573-0476
Publisher: Springer New York LLC
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