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

Table 9

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

	Estimate	Std. error	value	value
Intercept	11.01571	0.61388	17.944	<2.2-16
Gender	-0.55847	0.15118	-3.694	0.000221
Age	-0.47396	0.08986	-5.275	<2.2-16
Education	0.51626	0.09228	5.594	<2.2-16
Accident seen	1.61644	0.29585	5.464	<2.2-16
Accident involved	0.32372	0.15870	2.040	0.041359
Married	0.45683	0.14353	3.183	0.001458
Log(bid)	-1.97137	0.07876	-25.031	<2.2-16
Log-likelihood	-990.363963
LR statistic	123.200 on 6 DF
value	≤0.001
AIC	1996.727927
BIC	2033.688513
Iterations	51 18
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.