Stated Preference Discrete Choice Model to Investigate the Determinants of Public Willingness to Pay for Road Casualty Risk Reduction in Thailand

摘要

This study intends to investigate how a society appreciates road safety and the factors that influence public willingness to pay (WTP) for a reduction in risk of road safety. For this purpose, the Discrete Choice modelling technique was employed to analyze WTP data collected through a Stated Preference Contingent Valuation experiment and to establish the WTP determinants of and the attitudes toward road safety. Accordingly, eight models were developed for car and motorcycle casualties by taking into account four severity classes of casualty: slight, serious but no permanent disability, serious with permanent disability, and fatal. The analysis shows that level of education and vehicle ownership have significant relationship with public WTP. It is also found that there exists a very strong correlation between past casualty experiences and WTP.