Valuation of Accident Reduction

Valuation of Accident Reduction

The objective of this note is to advise on a desired and workable method that can be used to place values on accident reduction. The first section of this note identifies the need to categorize accidents if accidents are to be valued, and suggests a method of categorization. Following, it identifies the components of cost that make up total accident costs, while further sections suggest methods that can be used to value casualty related costs, and incident related costs. Other Sections discuss how accident valuation may vary between modes, and suggest that accident valuations are consistent with those utilized in other Bank projects (e.g. health projects). Final Sections discuss the manner that accident costs vary with time, and the relationship between the valuation and the accident prediction m model. The final Section summarizes the principal recommendations of the note.

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Bibliographic Details
Main Authors: Mackie, Peter, Nellthorp, John, Laird, James
Language:English
Published: World Bank, Washington, DC 2005-01
Subjects:ACCIDENT, ACCIDENT ANALYSIS, ACCIDENT COSTS, ACCIDENT PREVENTION, ACCIDENT RATE, ACCIDENT RATES, ACCIDENT REDUCTION, ACCIDENTS, AIR POLLUTION, AMBULANCE SERVICE, AMBULANCES, AVERAGE COSTS, CASUALTIES, COST BENEFIT ANALYSIS, CYCLING, CYCLISTS, DISCOUNTED VALUE, ELASTICITY, EMERGENCY SERVICES, FATALITIES, FIRE, FOOTPATHS, FRAMEWORK, FREIGHT, GNP, GOAL, HDM4, HIGHWAY, HUMAN CAPITAL, INCOME, INJURIES, INSURANCE, INSURANCE COMPANIES, LOCAL AUTHORITIES, MIDDLE INCOME COUNTRIES, MORTALITY, NUMBER OF ACCIDENTS, PASSENGERS, PEDESTRIANS, PER CAPITA INCOME, PIARC, POLICE, PURCHASING POWER, RATES, RISK ANALYSIS, RISK AVERSE, RISK NEUTRAL, ROAD ACCIDENTS, ROAD PROJECT, ROAD SAFETY, ROAD TRAFFIC, ROAD USERS, SAFETY, SAFETY IMPROVEMENT, SERIOUS INJURIES, SHOULDERS, SIGNS, SLOW TRAFFIC, STREET FURNITURE, TOTAL COSTS, TRAFFIC, TRAFFIC ACCIDENTS, TRAFFIC FLOW, TRAFFIC VOLUMES, TRANSPORT, TRANSPORT ECONOMICS, TRANSPORT INFRASTRUCTURE, TRANSPORT PROJECTS, TRANSPORT SECTOR, TRANSPORT USERS, TRAVEL TIME, VALUATION, VALUE OF TIME, VEHICLES, WAGE RATES, WALKING, WEALTH,
Online Access:http://documents.worldbank.org/curated/en/2005/01/6379156/valuation-accident-reduction
https://hdl.handle.net/10986/11799
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Summary:The objective of this note is to advise on a desired and workable method that can be used to place values on accident reduction. The first section of this note identifies the need to categorize accidents if accidents are to be valued, and suggests a method of categorization. Following, it identifies the components of cost that make up total accident costs, while further sections suggest methods that can be used to value casualty related costs, and incident related costs. Other Sections discuss how accident valuation may vary between modes, and suggest that accident valuations are consistent with those utilized in other Bank projects (e.g. health projects). Final Sections discuss the manner that accident costs vary with time, and the relationship between the valuation and the accident prediction m model. The final Section summarizes the principal recommendations of the note.

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