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The Microeconomic Analysis of the External Costs of Road Accidents

Author

Listed:
  • John Peirson
  • Ian Skinner
  • Roger Vickerman

Abstract

A disaggregated model of the marginal external costs of road accidents imposed by different road users is developed. The model explicitly specifies the adjustment of road users to increases in accident risks imposed by additional road use and is used to estimate marginal external costs of road accidents. The results, under certain assumptions, are up to 50% less than those obtained using the methods of previous studies. However, the adjustment to the increased risks of accidents leads to other costs, such as congestion and reduced pedestrian mobility. These costs should be included in a comprehensive analysis.

Suggested Citation

  • John Peirson & Ian Skinner & Roger Vickerman, 1996. "The Microeconomic Analysis of the External Costs of Road Accidents," Studies in Economics 9606, School of Economics, University of Kent.
    • Handle: RePEc:ukc:ukcedp:9606
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    Cited by:

    1. Jonsson, Lina & Björklund, Gunilla & Isacsson, Gunnar, 2019. "Marginal costs for railway level crossings in Sweden," Working papers in Transport Economics 2019:1, CTS - Centre for Transport Studies Stockholm (KTH and VTI), revised 22 Dec 2020.
    2. Andrew Dickerson & John Peirson & Roger Vickerman, 2000. "Road Accidents and Traffic Flows: An Econometric Investigation," Economica, London School of Economics and Political Science, vol. 67(265), pages 101-121, February.
    3. Schrage, Andrea, 2006. "Traffic Congestion and Accidents," University of Regensburg Working Papers in Business, Economics and Management Information Systems 419, University of Regensburg, Department of Economics.
    4. Pål Andreas Pedersen, 2001. "A Game Theoretical Approach to Road Safety," Studies in Economics 0105, School of Economics, University of Kent.
    5. Simon Shepherd, 2008. "The effect of complex models of externalities on estimated optimal tolls," Transportation, Springer, vol. 35(4), pages 559-577, July.
    6. Eef Delhaye, 2004. "Traffic safety: speed limits, strict liability and a km tax," Energy, Transport and Environment Working Papers Series ete0407, KU Leuven, Department of Economics - Research Group Energy, Transport and Environment.
    7. Tito Moreira & Adolfo Sachsida & Loureiro Paulo, 2004. "Traffic accidents: an econometric investigation," Economics Bulletin, AccessEcon, vol. 18(3), pages 1-7.

    More about this item

    Keywords

    Road Accidents; Externalities;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • J29 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Other

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