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Economic Evaluation of Road Traffic Safety Measures

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  • Gul, Ejaz
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Abstract

The number of road traffic casualties is still very lofty and the trend shows a boost with each passing day. The road traffic accidents involve fatalities due to which economic resources are damaged and the productivity of the economy is correspondingly impaired. Costs resulting from traffic accidents represent the largest single part of the overall cost of traffic to the economy. Knowledge about the harm of these traffic accidents to the economy is essential if measures to reduce road traffic accidents are to be identified and initiated. Once an economic assessment of road safety measures has been made, work on improving safety in accordance with economic criteria can be organized as efficiently as possible. Towards this end, it is necessary to opt for measures that are likely to be successful in a given situation. Current research is regarding the evaluation of road traffic safety measures in Pakistan and its economical effects based on available data. The research reveals that road accidents have key influence on the economic statistics of the country. The study presents a valuable tool for policy formulation on the road safety regulations in the country.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 48350.

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Date of creation: 16 Jul 2013
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Publication status: Published in Conference Proceedings of Third International Symposium on Infrastructure Engineering in Developing Countries (IEDC-2010), NED University, Karachi, Pakistan 1.1(2010): pp. 177-186
Handle: RePEc:pra:mprapa:48350

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Keywords: Economic; Evaluation; Traffic; Safety; Accidents; Statistical Analysis.;

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  1. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
  2. Brennan, Timothy J., 1993. "The Futility of Multiple Utility," Economics and Philosophy, Cambridge University Press, vol. 9(01), pages 155-164, April.
  3. Eckel, Catherine C. & Grossman, Philip J., 2008. "Men, Women and Risk Aversion: Experimental Evidence," Handbook of Experimental Economics Results, Elsevier.
  4. Hausman, Daniel M & McPherson, Michael S, 1993. "Taking Ethics Seriously: Economics and Contemporary Moral Philosophy," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 671-731, June.
  5. Broome,John, 1999. "Ethics out of Economics," Cambridge Books, Cambridge University Press, number 9780521642750, October.
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  1. #HEJC papers for August 2013
    by academichealtheconomists in The Academic Health Economists' Blog on 2013-07-31 23:00:48

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