The Value Of Human Life: Willingness To Pay For The Provision Of Life-Jackets At The Sarawak River

Shazali, Abu Mansor and Ernest Cyril, de Run and Hamrila, Abd Latif (2005) The Value Of Human Life: Willingness To Pay For The Provision Of Life-Jackets At The Sarawak River. International Journal of Business and Society, 6 (2). pp. 83-96. ISSN 1511 6670

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Abstract

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

Item Type: Article
Uncontrolled Keywords: willingness to pay (WTP), life-jackets, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, Universiti Malaysia Sarawak
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Academic Faculties, Institutes and Centres > Faculty of Economics and Business
Depositing User: Karen Kornalius
Date Deposited: 27 Oct 2015 07:03
Last Modified: 27 Oct 2015 07:03
URI: http://ir.unimas.my/id/eprint/9242

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