1. Essay On Traffic Safety
For example, it rules out the trading of lives for other commodities. ... Since traffic safety, for example from investing in new roads, is a non-tradable good, it does not have a market value. ... An example of embedding in the traffic environment would be if the WTP of a 10% risk reduction roughly equal that of a 50% risk reduction. ... Most empirical research using the HP approach has been in environmental economics valuing for example earthquake risks and traffic noise levels. ...
- Word Count: 4198
- Approx Pages: 17
- Grade Level: Undergraduate