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On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 1-Caveat Investigator
Abstract
This article reports the results of two studies aimed at testing and refining a procedure for estimating willingness-to-pay based monetary values of safety using the contingent valuation method. In spite of the fact that respondents were given the opportunity to discuss various safety issues and key concepts in focus group meetings held in advance of individual interviews, and were also given ample opportunity to revise their responses in the light of the overall pattern of these responses, the results show clear evidence of extensive and persistent insensitivity to the scale and scope of the safety improvements that were specified in the contingent valuation questions, as well as vulnerability to framing effects. This clearly casts serious doubt on the reliability and validity of willingness-to-pay based monetary values of safety estimated using conventional contingent valuation procedures.
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Citations
Cited by
Contingent Valuation: A User's Guide
Carson, R. T. (2000) · Environmental Science & Technology · doi:10.1021/es990728j · Cited by 831
The value of statistical life in road safety: a meta-analysis
de Blaeij, A., Florax, R. J. G. M., Rietveld, P., & Verhoef, E. (2003) · Accident Analysis & Prevention · doi:10.1016/s0001-4575(02)00105-7 · Cited by 293
Are some lives more valuable? An ethical preferences approach
Johansson-Stenman, O., & Martinsson, P. (2008) · Journal of Health Economics · doi:10.1016/j.jhealeco.2007.10.001 · Cited by 64
Preferences for lives, injuries, and age: A stated preference survey
Carlsson, F., Daruvala, D., & Jaldell, H. (2010) · Accident Analysis & Prevention · doi:10.1016/j.aap.2010.05.002 · Cited by 20
Metadata
- Authors
- BEATTIE*, J., COVEY, J., DOLAN, P., HOPKINS, L., JONES-LEE, M., LOOMES, G., PIDGEON, N., ROBINSON, A., & SPENCER, A.
- Venue
- Journal of Risk and Uncertainty
- Published
- 1998-10
- Volume
- 17
- Issue
- 1
- Pages
- 5-26
- ISSN
- 0895-5646 (ISSN-L)
- 1573-0476
- OpenAlex
- W2102953515
- Cited by
- 222
- References
- 0
- FWCI
- 19.06
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 1-Caveat Investigator. https://app.cochat.ai/papers/10.1023/a:1007711416843
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- BEATTIE*, J., COVEY, J., DOLAN, P., HOPKINS, L., JONES-LEE, M., LOOMES, G., PIDGEON, N., ROBINSON, A., & SPENCER, A. (1998). On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 1-Caveat Investigator. Journal of Risk and Uncertainty. https://doi.org/10.1023/a%3A1007711416843
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
