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Citation |
Riera P, Mhawej A, Mavsar R, Bray R. Transp. Rev. 2006; 26(4): 487-500. |
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Affiliation |
Universidad Autonoma de Barcelona, Barcelona, Spain; Universidad Pablo de Olavide, Seville, Spain |
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Copyright |
(Copyright © 2006, Informa - Taylor and Francis Group) |
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DOI |
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PMID |
unavailable |
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Abstract |
Relatively little attention has been given to the differences in value of statistical life (VSL) from developed and less developed countries. The paper derives a cross-countries VSL estimate based on road fatality accidents and it provides a test to check for such differences. Estimations were obtained from a fixed-effect hedonic price model applied to a panel of data using new and second-hand car prices from 27 countries as a dependent variable. The VSL estimate of e6.63 million is in line with results from other studies; and the income elasticity of VSL between countries is close to unity, implying that VSL is approximately proportional to income. |