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Heterogeneity of the Accident Externality from Driving

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  • Rachel J. Huang
  • Larry Y. Tzeng
  • Kili C. Wang

Abstract

type="main" xml:lang="en"> This article examines the accident externality from driving in terms of loss probability and severity by using a unique individual-level data set with more than 3 million observations from Taiwan. Two types of accident externality are, respectively, measured: the average number of kilometers driven per month per vehicle and the total number of speeding tickets per month. For both variables, we find significant evidence to support the existence of the accident externality. Moreover, we find that the accident externality is heterogeneous in terms of the vehicles’ characteristics.

Suggested Citation

  • Rachel J. Huang & Larry Y. Tzeng & Kili C. Wang, 2014. "Heterogeneity of the Accident Externality from Driving," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 81(4), pages 735-756, December.
    • Handle: RePEc:bla:jrinsu:v:81:y:2014:i:4:p:735-756
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    Cited by:

    1. Green, Colin P. & Heywood, John S. & Navarro, María, 2016. "Traffic accidents and the London congestion charge," Journal of Public Economics, Elsevier, vol. 133(C), pages 11-22.
    2. Wei‐Jin Wu & Chu‐Shiu Li & Sheng‐Chang Peng, 2020. "The relationships between vehicle characteristics and automobile accidents," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 23(4), pages 331-377, December.
    3. Yen-Chih Chen & Wen-Yen Hsu & Carol Troy, 2024. "Unpriced and unseen: private information and taxi insurance purchases in Taiwan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 49(4), pages 831-867, October.
    4. Sojung Carol Park & Sangeun Han, 2017. "Externalities From Driving Luxury Cars," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 20(3), pages 391-427, December.
    5. Piera Bello, 2021. "The environmental cost and the accident externality of driving: Evidence from the Swiss franc's appreciation," Economic Inquiry, Western Economic Association International, vol. 59(3), pages 1440-1458, July.

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