VALUES OF LIFE AND TIME IMPLIED BY MOTORIST USE OF PROTECTION EQUIPMENT

One approach to valuing risks to human health and safety is to study choices made by motorists. From analyses of motorist use of protection equipment we can derive willingness to pay to avoid accidental death and injury. The threefold purpose of this paper is to present a model of motorist use of protection equipment (Section I), apply the model to analyze use of safety belts, child safety seats and motorcycle helmets (Section II), and derive the implied values of reducing the risks of fatal and nonfatal injuries (Section III).