English, Article, Journal or magazine article edition: Valuing statistical lives from observations of speed limits and driving behavior Strand, Jon

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Bookmark: http://trove.nla.gov.au/version/120376
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Valuing statistical lives from observations of speed limits and driving behavior
Author
  • Strand, Jon
Physical Description
  • preprint
Notes
  • The paper discusses how to derive empirical estimates of the value of a statistical life (VSL) from observations of highway driving speeds, and from how such speeds are affected by speed limits and penalties for speeding. When drivers optimize with respect to driving speeds, we discuss three alternative approaches. The first two rely on constructing drivers’ utility functions, and the last on revealed government preferences similar to that used by Ashenfelter and Greenstone (2002) (A-G). The two last approaches are based on observations of changed driving speeds when speed limits and speeding penalties change. When drivers are law obedient and adhere to speed limits only the A-G approach can be used. Their approach is however unrealistic in putting overly great demand on government information about VSL, and in addition provides upwardly biased average VSL estimates.
  • Value of a statistical life; VSL; driving
  • RePEc:hhs:oslohe:2003_021
Language
  • English
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