Factors influencing willingness to pay for accident risk reduction among personal car drivers in Thailand

Thailand ranks near the top for the road accident fatality rate worldwide, and more and more vehicles are being registered in Thailand every year. Obtaining the opinions of road commuters may help us reduce road accidents in Thailand. This study seeks to understand damage value in road accidents for personal car drivers in Thailand, using the willingness to pay approach and establishing factors affecting willingness to pay with the theory of planned behavior (TPB). This study obtained data using questionnaires in face-to-face interviews with 1,650 personal cars drivers in Thailand. The average willingness to pay (WTP) for 50% fatality or injury reduction was 23.00 baht/person/50 km trip (US $0.74/person/50 km trip). We obtained the value of statistical life (VSL), assessing this to fall between US $815,385 and US $872,942, and the value of statistical injury (VSI), between US $150,059 and US $160,652. Overall, national damage was assessed at US $4,701,981,170 annually. According to the analysis of factors affecting WTP, TPB comprises four factors, namely, driver attitude, subjective norm, perceived behavioral control, and behavioral intention. Analysis using structural equation modeling (SEM) found all mentioned factors were relevant and positively influenced personal car drivers’ WTP in Thailand, with a statistical significance at a 99% confidence interval (p < 0.01). This study can develop recommendations for relevant organizations to analyze the results as part of considerations regarding budget allocation and developments on road safety policy due to driver attitude as important as environmental factors or any other factors.