Abstract
Malaysia is currently facing crucial stage in the rapid development of the economics and transport sectors. With more vehicles on the road and more kilometers to travel, road accident fatality and injury has become inevitable and common disaster among the nation. In the aftermath, the burden placed on the victims and survivors was hardly justified to the whole. Thus, this paper aims to present Malaysian estimate of the value of statistical life (VOSL) to solicit out the subjective human value associated to road accident fatality and injury. Nationwide survey interview to eligible 3000 respondents were performed to provide the VOSL estimation and the main contributing factors to the valuation. The VOSL for fatality in road accident was estimated between USD 0.31 million to USD 0.53 million. Serious injury values ranged from USD 0.14 million to USD 0.28 million while slight injury ranges from USD 0.06 million to USD 0.20 million.
