IDEAS home Printed from https://ideas.repec.org/a/taf/transr/v26y2005i4p521-534.html
   My bibliography  Save this article

Integrating Accident and Travel Delay Externalities in an Urban Speed Reduction Context

Author

Listed:
  • David A. Hensher

Abstract

Accident externality costs remain controversial in terms of their costing and valuation. Much of the literature on accident and travel delay externalities treats each source as mutually exclusive and additive, yet common sense suggests that interdependencies prevail. One example of this is the recognition that accident externalities are not independent of travel delays, and hence travel time savings and losses are influenced by policy designed to reduce the risk of exposure to accidents. Reduced maximum speed limit restrictions also add costs in terms of loss of travel time (and increased speed limits produce travel time benefits). Also, lowered speed limits may lead to more drivers risking exceeding the speed limit because of perceived time loss, thereby exacerbating the potential for accidents. The paper takes a close look at the empirical relationship between accident and travel delay externalities in an urban setting, accounting for the risk‐compensating behaviour under conditions of greater accident risk. Recognizing that levels of risk in an urban setting are broadly a function of traffic densities and that the latter can be approximated by the mix of free flow and non‐free flow travel time (for a given total travel time), an aggregate marginal externality cost function is used to quantify empirically the input elements in the context of a driver’s choice between a free and a tolled route in Sydney, Australia. This discrete choice context is sufficient, given an externally established relationship between speed and traffic density, to quantify the marginal externality accident and travel time delay costs. It is shown what additional externality has to be factored into the accident costs to recognize the other sources of externality typically ignored in accident costing and speed restriction studies.

Suggested Citation

  • David A. Hensher, 2005. "Integrating Accident and Travel Delay Externalities in an Urban Speed Reduction Context," Transport Reviews, Taylor & Francis Journals, vol. 26(4), pages 521-534, June.
  • Handle: RePEc:taf:transr:v:26:y:2005:i:4:p:521-534
    DOI: 10.1080/01441640600602369
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/01441640600602369
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/01441640600602369?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Orley Ashenfelter & Michael Greenstone, 2004. "Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias," American Economic Review, American Economic Association, vol. 94(2), pages 454-460, May.
    2. Orley Ashenfelter & Michael Greenstone, 2004. "Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias," American Economic Review, American Economic Association, vol. 94(2), pages 454-460, May.
    3. Orley Ashenfelter & Michael Greenstone, 2004. "Estimating the Value of a Statistical Life: The Importance of Omitted Variables and Publication Bias," Working Papers 858, Princeton University, Department of Economics, Industrial Relations Section..
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Havranek, Tomas & Irsova, Zuzana & Gechert, Sebastian & Kolcunova, Dominika, 2019. "Death to the Cobb-Douglas Production Function? A Meta-Analysis of the Capital-Labor Substitution Elasticity," MetaArXiv 6um5g, Center for Open Science.
    2. Herrera-Araujo, Daniel & Rochaix, Lise, 2020. "Does the Value per Statistical Life vary with age or baseline health? Evidence from a compensating wage study in France," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).
    3. Bergstrom, John C. & Taylor, Laura O., 2006. "Using meta-analysis for benefits transfer: Theory and practice," Ecological Economics, Elsevier, vol. 60(2), pages 351-360, December.
    4. Marek Rusnak & Tomas Havranek & Roman Horvath, 2013. "How to Solve the Price Puzzle? A Meta‐Analysis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(1), pages 37-70, February.
    5. Roman Horvath & Ali Elminejad & Tomas Havranek, 2020. "Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply," Working Papers IES 2020/32, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Sep 2020.
    6. Tomas Havranek, 2013. "Publication Bias in Measuring Intertemporal Substitution," Working Papers IES 2013/15, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2013.
    7. Gianmarco León & Edward Miguel, 2017. "Risky Transportation Choices and the Value of a Statistical Life," American Economic Journal: Applied Economics, American Economic Association, vol. 9(1), pages 202-228, January.
    8. Anton Astakhov & Tomas Havranek & Jiri Novak, 2019. "Firm Size And Stock Returns: A Quantitative Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 33(5), pages 1463-1492, December.
    9. Polák, Petr, 2017. "The productivity paradox: A meta-analysis," Information Economics and Policy, Elsevier, vol. 38(C), pages 38-54.
    10. Christopher Hansman & Jonas Hjort & Gianmarco León, 2015. "Firm's response and unintended health consequences of industrial regulations," Economics Working Papers 1469, Department of Economics and Business, Universitat Pompeu Fabra.
    11. Scotton Carol R., 2013. "New risk rates, inter-industry differentials and the magnitude of VSL estimates," Journal of Benefit-Cost Analysis, De Gruyter, vol. 4(1), pages 39-80, March.
    12. Tomáš Havránek, 2015. "Measuring Intertemporal Substitution: The Importance Of Method Choices And Selective Reporting," Journal of the European Economic Association, European Economic Association, vol. 13(6), pages 1180-1204, December.
    13. Claire Lepault, 2023. "Is urban wastewater treatment effective in India? Evidence from water quality and infant mortality," CIRED Working Papers hal-04232407, HAL.
    14. León-Ciliotta, Gianmarco & Miguel, Edward, 2013. "Transportation Choices and the Value of Statistical Life," Department of Economics, Working Paper Series qt2466n61j, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    15. Hippolyte W. Balima & Eric G. Kilama & Rene Tapsoba, 2017. "Settling the Inflation Targeting Debate: Lights from a Meta-Regression Analysis," IMF Working Papers 2017/213, International Monetary Fund.
    16. Havranek, Tomas & Irsova, Zuzana & Janda, Karel, 2012. "Demand for gasoline is more price-inelastic than commonly thought," Energy Economics, Elsevier, vol. 34(1), pages 201-207.
    17. Andersson, Henrik & Hole, Arne Risa & Svensson, Mikael, 2016. "Valuation of small and multiple health risks: A critical analysis of SP data applied to food and water safety," Journal of Environmental Economics and Management, Elsevier, vol. 75(C), pages 41-53.
    18. Abel Brodeur & Mathias Lé & Marc Sangnier & Yanos Zylberberg, 2016. "Star Wars: The Empirics Strike Back," American Economic Journal: Applied Economics, American Economic Association, vol. 8(1), pages 1-32, January.
    19. Shi He & Yum K. Kwan & Hongzhong Fan, 2019. "In search of FDI horizontal spillovers in China: evidence from meta-analysis," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(3), pages 1505-1527, May.
    20. Dominika Ehrenbergerova & Josef Bajzik & Tomas Havranek, 2023. "When Does Monetary Policy Sway House Prices? A Meta-Analysis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(2), pages 538-573, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:transr:v:26:y:2005:i:4:p:521-534. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TTRV20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.