On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 2 - The CV/SG "Chained" Approach

Carthy, T., Chilton, S., Covey, J.,, Hopkins, L.,, Jones-Lee, M., Loomes, G., Pidgeon, Nicholas Frank ORCID: https://orcid.org/0000-0002-8991-0398 and Spencer, A. 1999. On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 2 - The CV/SG "Chained" Approach. Journal of Risk and Uncertainty 17 (3) , pp. 187-214. 10.1023/A:1007782800868

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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.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Psychology
Subjects:	B Philosophy. Psychology. Religion > BF Psychology H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Uncontrolled Keywords:	Safety, contingent valuation, standard gambles, embedding, scope, sequencing
Publisher:	Springer
ISSN:	0895-5646
Last Modified:	21 Oct 2022 08:47
URI:	https://orca.cardiff.ac.uk/id/eprint/34371

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