The value of life and accident costing: A willingness-to-pay study amongst motorcyclists in Malaysia

Mohd Y. Mohd Fauzi, Nor Ghani Md Nor, Radin S. Radin Umar, Hashim Ahmad Hariza

Research output: Contribution to journalArticle

9 Citations (Scopus)

Abstract

Motorcyclists constitute a large proportion of total road casualties in Asian countries Unfortunately, studies conducted for the purpose of evaluating the cost of traffic crashes, and cost-benefit analyses of safety interventions, are almost nonexistent in these countries. The loss-of-output approach to valuing life has been used for many years, yet this method has also long been criticised as it results in significant resource misallocation. This study attempts to overcome this problem by estimating the value of a statistical life among motorcyclists using the willingness-to-pay method that is commonly used in developed countries. The study recommends adopting a value of MYR1.1 million (almost five times the previous estimate) per statistical life for public policy analysis involving motorcycle safety.

Original languageEnglish
Pages (from-to)5-8
Number of pages4
JournalApplied Health Economics and Health Policy
Volume3
Issue number1
DOIs
Publication statusPublished - 2004

Fingerprint

Value of Life
Malaysia
Accidents
Motorcycles
Safety
Policy Making
Public Policy
Developed Countries
Cost-Benefit Analysis
Costs and Cost Analysis
Willingness-to-pay
Costing
Value of life
Costs and benefits
Roads
Crash
Misallocation
Costs
Developed countries
Casualties

ASJC Scopus subject areas

  • Economics and Econometrics
  • Health Policy

Cite this

The value of life and accident costing : A willingness-to-pay study amongst motorcyclists in Malaysia. / Mohd Fauzi, Mohd Y.; Md Nor, Nor Ghani; Radin Umar, Radin S.; Hariza, Hashim Ahmad.

In: Applied Health Economics and Health Policy, Vol. 3, No. 1, 2004, p. 5-8.

Research output: Contribution to journalArticle

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