The Value Of Human Life: Willingness To Pay For The Provision Of Life-Jackets At The Sarawak River
This article analyses individuals’ willingness to pay (WTP) for the provision of life-jackets at the Sarawak River, in Kuching, Sarawak, Malaysia, as a substitute measure for the value of human life. The study applied the dichotomous choice of Contingent Valuation Method (CVM) to users of express bo...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Universiti Malaysia Sarawak, (UNIMAS)
2005
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| Online Access: | http://ir.unimas.my/id/eprint/9242/ http://ir.unimas.my/id/eprint/9242/1/THE%20VALUE%20OF%20HUMAN%20LIFE%20WILLINGNESS%20TO%20PAY%20FOR%20THE%20PROVISION%20OF%20LIFE-JACKETS%20AT%20THE%20SARAWAK%20RIVER.pdf |
| Summary: | This article analyses individuals’ willingness to pay (WTP) for the provision of life-jackets at the Sarawak River, in Kuching, Sarawak, Malaysia, as a substitute measure for the value of human life. The study applied the dichotomous choice of Contingent Valuation Method (CVM) to users of express boats at the Kuching Wharf, who were sampled randomly. Results indicate a per person mean value of RM8.58 for the willingness to pay (WTP) for the provision of life-jackets, using the logic modern. This indicates a high level of willingness to accept financial responsibility for individuals’ own safety and life value. Nevertheless, price, age, and income play a moderating role on the amount respondents are willing to pay. The collection of such monetary amount will allow for the provision of life-jackets as well as the promotion of various safety programs in the state |
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