Analysis of Pedestrian Crash Cost by Willingness to Pay Method (A Case Study of Kathmandu Valley)

Abstract

Road traffic crashes is one of the serious issue in Nepal. Global Status Report on Road Safety (2018) estimated 15.9 road traffic fatalities per 100000 population in Nepal. In the fiscal year 2018/19, due to road traffic crashes 254 fatalities were recorded in Kathmandu Valley. Among 254 fatalities, 93 were pedestrian. In the developing countries like Nepal road safety improvements are very lacking. So this study would help to provide reliable information regarding sufficient fund allocation for road safety improvement. Annually hundreds of pedestrian are losing their life in road traffic crashes. So there is need of assessment of pedestrian crash cost. In this study the crash cost of pedestrian have been measured in terms of value of statistical life (VOSL). Contingent Valuation approach of Willingness to Pay (WTP) was used to determine the amount of money that pedestrians are willing to pay for risk reduction. The questionnaire consisting of socioeconomic and household characteristics, walking behavior and valuation questions was designed for the survey. In the valuation question section, individuals were asked to quote the maximum amount of money that they would pay to reduce risk of fatality due to road traffic crash. From the study VOSL of pedestrian ranges from 7.61 to 17.46 million Nepalese Rupees.