The value of a statistical life in Sweden: estimates from two studies using the "Certainty Approach" calibration.

@article{Svensson2009TheVO,
  title={The value of a statistical life in Sweden: estimates from two studies using the "Certainty Approach" calibration.},
  author={Mikael Svensson},
  journal={Accident; analysis and prevention},
  year={2009},
  volume={41 3},
  pages={430-7}
}
Stated preference methods using surveys to elicit willingness to pay have been shown to suffer from hypothetical bias and scope/scale bias. Hypothetical bias usually means that willingness to pay is exaggerated in the hypothetical scenario and scope/scale bias means that there is an insensitivity in willingness to pay with regard to the amount of goods or the size of a good being valued. Experimental results in social psychology and economics have shown that only trusting the most certain… CONTINUE READING

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