Estimating the Value of Statistical Life in a Road Safety Context Based on the Contingent Valuation Method

Table 10

Parameter estimates of the Weibull model (source: authors).

	Estimate	Std. error	value	value
Intercept	8.01325	0.41347	19.3804	<2-16
Gender	-0.61336	0.10339	-5.9324	<2-16
Age	-0.36989	0.05966	-6.2001	<2-16
Education	0.27540	0.06038	4.5614	5-06
Accident seen	0.72847	0.16249	4.4831	7-06
Accident involved	-0.03251	0.10282	-0.3162	0.7519
Married	0.45536	0.09000	5.0596	<2-16
Log(bid)	-1.23593	0.04586	-26.9514	<2-16
Log-likelihood	-1022.225879
LR statistic	138.870 on 6 DF
value	≤0.001
AIC	2060.451758
BIC	2097.412344
Iterations	61 14
Convergence	True
Distribution	Weibull
WTP estimates:
, i.e., truncated with the max bid
, i.e., truncated with the max bid with adjustment

Significance codes: 0 “” 0.001 “” 0.01 “” 0.05 “.” 0.1 “ ” 1.