Human costs constitute a considerable part of the total social costs of road crashes. It is important for policy and its supporting research, in particular cost-benefit analysis,to be able to valuate this damage in terms of money. This article discusses monetary valuation of human costs in the context of road safety. After explaining some concepts and methodological issues, the results of a study into the 'value of a statistical life' (VOSL) in the Netherlands will be discussed. To make an estimate of the VOSL in the Netherlands, car drivers were directly or indirectly asked in a questionnaire what they are willing to pay for safety measures. Based on this study a VOSL of 2.2 ± 0.3 million euro (price level 2001) is recommended as a standard in cost-benefit analyses and in research into the costs of road crashes. The VOSL of 2.2 million euro is in line with several recent estimates in other European countries. The value is higher however than those used in Dutch policy studies until recently. In policy making often a relatively low, conservative value is chosen: VOSLs that have been found in foreign scientific research are often much higher. Based on some international studies which also determine a VOSL for the Netherlands, a second, larger margin for the Dutch VOSL can be used for sensitivity analysis: 1.6 to 3.0 million euro (price level 2001). (Author/publisher)
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