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 mainly determined by the difference between the marginal and average risks. The model is estimated using a new dataset 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.
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Bibliographic InfoPaper provided by Department of Economics, University of Kent in its series Studies in Economics with number 9809.
Date of creation: Apr 1998
Date of revision:
Publication status: Published in Economica, 2000, 67, pp.101-121
Contact details of provider:
Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 764000
Fax: +44 (0)1227 827850
Web page: http://www.ukc.ac.uk/economics/
Other versions of this item:
- Dickerson, Andrew & Peirson, John & Vickerman, Roger, 2000. "Road Accidents and Traffic Flows: An Econometric Investigation," Economica, London School of Economics and Political Science, vol. 67(265), pages 101-21, February.
- 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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