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

Table 8

Parameter estimates of the log-normal model (source: authors).

	Estimate	Std. error	value	value
Intercept	6.64316	0.34976	18.994	<2.2-16
Gender	-0.34313	0.09074	-3.781	0.000156
Age	-0.31801	0.05364	-5.929	<2.2-16
Education	0.25290	0.05469	4.624	4-06
Accident seen	0.86526	0.16088	5.378	<2.2-16
Accident involved	0.15981	0.09467	1.688	0.091396 .
Married	0.27533	0.08385	3.284	0.001025
Log(bid)	-1.13555	0.04029	-28.186	<2.2-16
Log-likelihood	-992.564903
LR statistic	118.108 on 6 degree of freedom (DF)
value	≤0.001
AIC	2001.129805
BIC	2038.090391
Iterations	57 13
Convergence	True
Distribution	Log-normal
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.