Estimating the value of risk reductions for car drivers when pedestrians are involved: a case study in Spain |
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Authors: | Rosa Marina González Concepción Román Francisco Javier Amador Luis Ignacio Rizzi Juan de Dios Ortúzar Raquel Espino Juan Carlos Martín Elisabetta Cherchi |
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Institution: | 1.Instituto Universitario de Desarrollo Regional,Universidad de La Laguna,La Laguna,Spain;2.Instituto de Turismo y Desarrollo Económico Sostenible,Universidad de Las Palmas de Gran Canaria,Las Palmas De Gran Canaria,Spain;3.Departamento de Ingeniería de Transporte y Logística, Centro de Desarrollo Urbano Sustentable (CEDEUS),Pontificia Universidad Católica de Chile,Santiago,Chile;4.Transport Operations Research Group (TORG), School of Civil Engineering and Geoscience,Newcastle University,Newcastle upon Tyne,UK;5.Facultad de Economía, Empresa y Turismo,La Laguna,Spain |
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Abstract: | We estimated the benefits associated with reducing fatal and severe injuries from traffic accidents using a stated choice experiment where choice situations were generated through a statistically efficient design. Specifically, the risk variables were defined as the expected annual number of vehicle car-users that suffered their death or were severely injured in a traffic accident. In addition, and differing from previous research, the number of pedestrians that died or were severely injured in traffic accidents per year was also included as a risk attribute in the choice experiment, to attempt at measuring drivers’ willingness to pay to reduce the risk of hitting pedestrians in a crash. The empirical setting was a choice of route for a particular trip that a sample of car drivers periodically undertakes in Tenerife, Spain. Models were estimated accounting for random taste heterogeneity and pseudo-panel data correlation. The median of the distribution of simulated parameters was used to obtain a representative measure for the monetary valuation of risk reductions. We found that the ratio between the values of reducing the risk of suffering a serious injury and that of reducing a fatality was approximately 18 %. Further, and quite novel, we also found that the value of reducing a pedestrian fatality was 39 % of the value of reducing a car occupant fatality. |
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