The value of a statistical life in the context of road safety: a new value transfer approach

We recommend applying this VSL transfer approach for cost-benefit analysis and road crash costing in countries lacking appropriate country-specific VSL. Moreover, this study highlights that, despite the growing interest in LMIC in research on VSL, the number of studies in these countries is still limited, emphasizing the need for more VSL studies. Finally, developing transfer functions for non-fatal injuries is recommended, which is an essential input for CBA as well.