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The development of road and rail transport safety valuation in the United Kingdom

Author

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  • Jones-Lee, M.
  • Spackman, M.

Abstract

An extensive body of theoretical and empirical work has been undertaken in the UK since the middle of the last century on the estimation of values of safety for use in the appraisal of proposed transport projects, particularly road and rail. This research has focused largely on ‘willingness-to-pay’ based values in order to measure the strength of the travelling public's preference for marginal improvements in transport safety, relative to consumption of other goods and services. In terms of practical policy making, the research has resulted in a set of values for the prevention of statistical fatalities and non-fatal injuries that are applied not only in transport safety decision making, but also in other public sector contexts. This paper summarises the main findings of this research.

Suggested Citation

  • Jones-Lee, M. & Spackman, M., 2013. "The development of road and rail transport safety valuation in the United Kingdom," Research in Transportation Economics, Elsevier, vol. 43(1), pages 23-40.
  • Handle: RePEc:eee:retrec:v:43:y:2013:i:1:p:23-40 DOI: 10.1016/j.retrec.2012.12.010
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    References listed on IDEAS

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    1. Judith Covey & Angela Robinson & Michael Jones-Lee & Graham Loomes, 2010. "Responsibility, scale and the valuation of rail safety," Journal of Risk and Uncertainty, Springer, vol. 40(1), pages 85-108, February.
    2. Jones-Lee, Michael W, 1974. "The Value of Changes in the Probability of Death or Injury," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 835-849, July/Aug..
    3. Han Bleichrodt & Jose Maria Abellan-Perpiñan & Jose Luis Pinto-Prades & Ildefonso Mendez-Martinez, 2007. "Resolving Inconsistencies in Utility Measurement Under Risk: Tests of Generalizations of Expected Utility," Management Science, INFORMS, vol. 53(3), pages 469-482, March.
    4. Viscusi, W Kip & Aldy, Joseph E, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," Journal of Risk and Uncertainty, Springer, vol. 27(1), pages 5-76, August.
    5. N/A, 1974. "Appraisal," National Institute Economic Review, National Institute of Economic and Social Research, vol. 67(1), pages 3-7, February.
    6. Jones-Lee, Michael W & Loomes, Graham & Philips, P R, 1995. "Valuing the Prevention of Non-fatal Road Injuries: Contingent Valuation vs. Standard Gambles," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 676-695, October.
    7. Jones-Lee, M W & Hammerton, M & Philips, P R, 1985. "The Value of Safety: Results of a National Sample Survey," Economic Journal, Royal Economic Society, vol. 95(377), pages 49-72, March.
    8. Mishan, E J, 1971. "Evaluation of Life and Limb: A Theoretical Approach," Journal of Political Economy, University of Chicago Press, vol. 79(4), pages 687-705, July-Aug..
    9. repec:reg:rpubli:282 is not listed on IDEAS
    10. Sunstein, Cass R, 1997. "Bad Deaths," Journal of Risk and Uncertainty, Springer, vol. 14(3), pages 259-282, May-June.
    11. A. W. Evans, 2000. "Fatal train accidents on Britain's mainline railways," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 163(1), pages 99-119.
    12. Jones-Lee, M W & Loomes, G, 1995. "Scale and Context Effects in the Valuation of Transport Safety," Journal of Risk and Uncertainty, Springer, vol. 11(3), pages 183-203, December.
    13. Beattie, Jane & Covey, Judith & Dolan, Paul & Hopkins, Lorraine & Jones-Lee, Michael & Loomes, Graham & Pidgeon, Nick & Robinson, Angela & Spencer, Anne, 1998. "On the Contingent Valuation of Safety and the Safety of Contingent Valuation: Part 1--Caveat Investigator," Journal of Risk and Uncertainty, Springer, vol. 17(1), pages 5-25, October.
    14. Chilton, Susan & Covey, Judith & Hopkins, Lorraine & Jones-Lee, Michael & Loomes, Graham & Pidgeon, Nick & Spencer, Anne, 2002. "Public Perceptions of Risk and Preference-Based Values of Safety," Journal of Risk and Uncertainty, Springer, vol. 25(3), pages 211-232, November.
    15. Susan Chilton & Michael Jones-Lee & Francis Kiraly & Hugh Metcalf & Wei Pang, 2006. "Dread risks," Journal of Risk and Uncertainty, Springer, vol. 33(3), pages 165-182, December.
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    More about this item

    Keywords

    Value of preventing a statistical fatality; Willingness to pay; Road and rail safety; Large-scale accidents;

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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