Applied Economics Journal

Applied Economics Journal

ISSN 0858-9291

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  • AEJ highlights the applications of concepts and theories to issues in micro- and macroeconomics
  • Double-blind peer review
  • Two issues a year (Jun, Dec)
  • Open access to all full-text content

Vol. 17 No. 1
Vol. 17 No. 1
The Value of Statistical Life in Flood- and Landslide-Prone Areas (in Thai)

Akarapong Untong

This study estimates the value of risk of lifeís loss of people who live in flood- and landside-prone areas in Nan, Chiang Mai and Chiang Rai. The methodology used is the value of statistical life (VSL). The results show that the value of statistical life of people living in these areas averages 0.67-4.67 million baht per person. Peopleís willingness to pay for an early warning system amounts to 118-123 baht per person per year. This amount is based on the personís belief that early warning can reduce the risk of lifeís loss. The value of statistical life in this study indicates a minimum value of risk of lifeís loss in flood- and landside-prone areas under the current economic and social status of a person and thus this is not the total value of a person who lives in the area. The study might steer the interest in using the technique to provide useful information as to base policy decision on measures or projects that affect health and life.

Keywords:   value of statistical life, flood, landslide, choice modeling

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Faculty of Economics Kasetsart University :  Center for Applied Economic Research (CAER) :  Other Journals :  Thai-Journal Citation Index Centre (TCI) (TCI)

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Kasersart University Journal of Economics
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