Estimating the willingness to pay and the value of fatality risk reduction for car drivers in Myanmar

To curb the rising road traffic accident trend in Myanmar, there is an urgent need to improve road safety. This study aims to evaluate current government road safety interventions. The contingent valuation-payment card method was used to elicit car drivers' willingness to pay (WTP) for fatality risk reduction. The value of statistical life (VSL) was then estimated and the factors influencing the WTP were examined using structural equation modeling. The estimated range for VSL was found to be MMK 104.167 million (US$ 86,805) to MMK 195.771 million (US$ 163, 142). Gender (male), mediating good driving behavior, and age indicators were found to negatively influence the WTP, whereas socioeconomic characteristics, good driving behavior, and risk perception factors were found to positively influence the WTP. The proposed model explained 33.7% of the variance and traffic accident risk perception was found to have the strongest influence on the WTP. This study can serve as a decision making tool for road safety improvement policies.