This 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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Publisher Info
Paper provided by Department of Economics, University of Kent in its series Studies in Economics with number
9809.
Length: Date of creation: Apr 1998 Date of revision: Publication status: Published in Economica, 2000, 67, pp.101-121 Handle: RePEc:ukc:ukcedp:9809
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/
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Find related papers by JEL classification: C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General D62 - Microeconomics - - Welfare Economics - - - Externalities R40 - Urban, Rural, and Regional Economics - - Transportation Systems - - - General
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