Valuation of Fatal and Non-Fatal Injuries Due to Motorcycle Accidents in Malaysia
Policy makers often struggle with the question of what is the appropriate monetary value to be associated with reduced fatalities. As a result, a disproportionate number of road safety projects were abandoned in favor of other types of projects as they all conlpetc for a limited amount of public...
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| Format: | Thesis |
| Language: | English English |
| Published: |
2006
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/6160/1/FK_2006_75.pdf |
| Summary: | Policy makers often struggle with the question of what is the appropriate monetary
value to be associated with reduced fatalities. As a result, a disproportionate number
of road safety projects were abandoned in favor of other types of projects as they all
conlpetc for a limited amount of public funds. This is the motivation for carrying out
this research the main objective of which is to evaluate of the value of statistical life
(VOSL) of fatal and non-fatal injuries among motorcyclists in Malaysia in an attempt
to overcome the lack of reliable estimates of accident.
The study utilizes extensively two surveys namely the valuation survey amongst
motorcyclists covering 6 constituents within the Seremban Municipality in the state
of Negeri Sembilan and the epidemiology survey of hospitalized non-fatal injuries
amongst injured motorcyclists at Seremban Hospital to develop the Injury Scale
Descriptor. Apart from using descriptive statistics, the inferential statistics have been
utilised to test the reliability and stability on the estimated values. Results from the valuation survey passed all the criteria of the construct validity
especially the critical scope test. Multiple regression analyses showed statistically
significant relationships between WTP and vital variables of income, age, accident
experience and riding purpose. A unique variable of race was also found to be
significantly related to WTP.
Upon control for the effect of inter-country variation in income, the mean values of
statistical life (VOSL) have been found to be approximately RM1.1 million and
RM77,000 per non-fatal injury. After considering GDP growth, the suggested
estimate to reflect the benefits 'of road safety in public policy analysis for year 2004
is RM1.3 million and RM92,400 for fatal and non-fatal injury respectively
This study recommends the need for further research on other cost elements to
complement the human cost in the effort to establish the comprehensive road
accident costs. Other valuation methods should also be conducted in similar
valuation studies to fortify the present human cost estimates. Finally, after the
successful estimate of intangible benefits (human cost) of road safety, it is strongly
recommended that research on other infrastructure investment benefits be
undertaken. Only then, can proper Cost Benefit Analysis method become the
instrument in evaluating Suture investments of transport infrastructures. |
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