Road Accidents and Traffic Flows: An Econometric Investigation
AbstractThis paper develops an empirical model of the relationship between road traffic accidents and traffic flows. The analysis focuses on the accident externality, which is determined mainly by the difference between the marginal and average risks. The model is estimated using a new data-set which combines hourly London traffic count data from automated vehicle recorders together with police records of road accidents. The accident-flow relationship is seen to vary considerably between different road classes and geographical areas. More importantly, even having controlled for these and other differences, the accident externality is shown to vary significantly with traffic flows. In particular, while the accident externality is typically close to zero for low to moderate traffic flows, it increases substantially at high traffic flows. Copyright 2000 by The London School of Economics and Political Science
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 67 (2000)
Issue (Month): 265 (February)
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Other versions of this item:
- Andrew Dickerson & John Peirson & Roger Vickerman, 1998. "Road Accidents and Traffic Flows: An Econometric Investigation," Studies in Economics 9809, Department of Economics, University of Kent.
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
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