Social valuation of road accident reductions using subjective perceptions

A method to calculate social prices for traffic accident reductions is prop osed and applied experimentally, using the social appraisal approach develo ped by Galvez and Jara-Diaz (1998). The approach requires the estimation of marginal utilities of attributes to be valued, and the calculation of a so cial utility of money. A stated preference experiment was designed to captu re the perception of an objective measure of accidents. Two types of models were estimated: one that includes income explicitly; and an income-stratif ied model (two groups). Using the obtained parameters, social values for ac cident reductions were calculated, showing little variation across income g roups. Private values were also obtained, and compared with those previousl y reported.