Abstract
Getting insight in the value of a statistical life (VOSL) attributed by the public to a specific risk such as dying from a house fire is important for policy makers to decide upon investments in risk policies. We conduct a choice experiment among 504 Dutch citizens, including trade-offs between a reduction in the probability of dying from a house fire and tax increases, to derive the VOSL in the Dutch context of fire risk. We estimate a random parameters logit model, allowing for heterogeneity in citizen preferences. We find that after correcting for choice anomalies among respondents our VOSL estimate is around EURO 15–22 million.
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