Large disparities between willingness to accept (WTA) and willingness to pay (WTP) based values of statistical life are commonly encountered in empirical studies. Standard economic theory suggests that if a public good is easily substitutable there should be no marked disparity between WTA and...

This paper describes a model for the optimal allocation of road safety resources in New Zealand. The model permits expenditure to be allocated between regions, intervention types and road types so that efficiency is maximized given a resource constraint. It can accommodate resource constraints...