Willingness-to-pay for pedestrian transportation insurance in the Mindanao railway project of Davao residents

Abstract

Pedestrians are risking their lives for everyday travel. Shifting from private to public vehicles may vary their chance of incidents and payables. This study aims to know the resident's percent of willingness to pay for their safety and its factor while on the road by using the willingness-to-pay contingent method (WTP-CV). To fully understand its purpose, respondents were of legal age, 18 years old or older. Respondents were divided into groups: those between the ages of 18 and 30 and those between the ages of 31 and 50, with and without insurance, and public and private commuters. This is to compare if the monetary value varies per group. This study uses ANOVA one-way analysis to compare the means of the group. For age, insurance, and commuter type, the results show significant values of 0.191, 0.641, and 0.536, respectively, which are higher than the threshold of 0.05. Simply put, there are no significant differences in the responses regardless of the respondents' ages, insurance status, or mode of transportation (public or private). The same amount is what respondents are willing to spend. As a result, a mean value of 1.463 was presented. The value falls in code 1 (Php 50 to 80) and Code 2 (Php 81 to 100). This indicates that the highest price a pedestrian is willing to pay for security in riding the railway is between Php 50 and Php 100 per travel.