Abstract
The proven willingness-to-pay with contingent valuation (WTP-CV) method is an effective tool for evaluating the cost of road accidents in many countries. In Thailand, the most fatalities on Thailand’s roads involve the vulnerable road users (VRUs) including motorcycle users, bicyclists, and pedestrians. With the effectiveness of using WTP-CV in analyzing the accident cost of motorcycle users and lack of specific accident cost for pedestrians, this research focuses on evaluating the accident cost on the pedestrians which is the second most VRU fatality. In this research, the road accident cost of pedestrians aged 15-39 years in Bangkok by WTP-CV method was determined. The WTP-CV questionnaire was employed as a tool to measure the payment of which each pedestrian is willing to pay to reduce the fatality and injury risk from road accidents. One thousand and two hundred pedestrians in Bangkok were interviewed. With the results, the value of statistical life (VOSL) for pedestrians in Bangkok is valued at US$ 0.43 million, while the value of statistical injury (VOSI) is estimated at about US$ 0.014 million, respectively. In addition, it is found from the regression analysis that for the fatality risk reduction, higher educational levels and private business pedestrians are likely to pay more to save their lives. In order to reduce the risk of injury, respondents, who are single in marriage status, are likely to pay more to reduce the risk of pedestrian injury. However, a high perception of safety is less likely to pay for the reduction of injury risk.
Highlights
Nowadays, there are a lot of traffic problems in Bangkok resulting in many negative impacts, such as traffic congestion, pollution and environmental problems and an increase in the number of road accidents
A 50% risk reduction was set for injury for road safety improvement, while a 100% risk reduction was set for fatalities
There are some drawbacks with the Willingness to Pay (WTP) approach used to measure pedestrian accident costs in Thailand, as some respondents were uncertain about the contingency questions, the author used the payment card to clarify by face-to-face interview, so that respondents could get the real values
Summary
There are a lot of traffic problems in Bangkok resulting in many negative impacts, such as traffic congestion, pollution and environmental problems and an increase in the number of road accidents. More than 1.25 million people die from road accidents. It is estimated that during the year of 2011-2013, the average annual accident cost is 17,883.1 million US dollar (US$1 = 30.5 Thai baht.) (or 6% of the Gross Domestic Product (GDP)) both in terms of life and property. In order to solve this problem, it is of importance for government and stakeholders to acknowledge the actual accident cost as the accident cost is a vital factor in road safety campaign. This enables management planning to reduce road accidents to maximize benefits. Every road accident causes fatality, injury and property damage and causes pain, grief, suffering and quality of life
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