Safety and travel time in cost-benefit analysis: A sensitivity analysis for North Rhine-Westphalia
Decisions on large-scale infrastructure concepts are frequently based on cost benefit analysis (CBA). Using 431 road projects evaluated in the integrated transport planning process in North Rhine-Westphalia, Germany (IGVP NRW) this paper examines the evaluation dimensions traffic safety (fatalities) and travel time in private passenger transport. The unit values of traffic fatalities and travel time are varied, and the effects of the variations on the rank order of the projects are examined. Target conflicts between safety and travel time are studied as well as the contribution of these two dimensions to the total benefit values. The sensitivity analysis shows that the evaluation results are fairly stable against variations in unit values of travel time and fatalities. The relevance of traffic safety in terms of its contribution to total benefit as well as in terms of the unit value appears to be relatively minor. The unit value of travel time is higher than that of lifetime. Some projects turn out as feasible in the evaluation even though they are likely to increase the number of fatalities. The paper therefore suggests the higher weighting of traffic safety in CBA.
Volume (Year): 18 (2011)
Issue (Month): 2 (March)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/30473/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hauer, E., 1994. "Can one estimate the value of life or is it better to be dead than stuck in traffic?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 28(2), pages 109-118, March.
- Rosencrantz, Holger & Edvardsson, Karin & Hansson, Sven Ove, 2007. "Vision Zero - Is it irrational?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(6), pages 559-567, July.
- Odeck, James, 2004. "Cost overruns in road construction--what are their sizes and determinants?," Transport Policy, Elsevier, vol. 11(1), pages 43-53, January.
- Bristow, A. L. & Nellthorp, J., 2000. "Transport project appraisal in the European Union," Transport Policy, Elsevier, vol. 7(1), pages 51-60, January.
- Amlan Banerjee & Xin Ye & Ram Pendyala, 2007. "Understanding Travel Time Expenditures Around the World: Exploring the Notion of a Travel Time Frontier," Transportation, Springer, vol. 34(1), pages 51-65, January.
- Roger Vickerman, 2007. "Cost – benefit analysis and large-scale infrastructure projects: state of the art and challenges," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 34(4), pages 598-610, July.
- Bert van Wee, 2007. "Large infrastructure projects: a review of the quality of demand forecasts and cost estimations," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 34(4), pages 611-625, July.
- Joachim Scheiner & Christian Holz-Rau, 2007. "Travel mode choice: affected by objective or subjective determinants?," Transportation, Springer, vol. 34(4), pages 487-511, July.
- Bent Flyvbjerg & Mette K. Skamris holm & S�ren L. Buhl, 2003. "How common and how large are cost overruns in transport infrastructure projects?," Transport Reviews, Taylor & Francis Journals, vol. 23(1), pages 71-88, January.
- Gerard Jong & Andrew Daly & Marits Pieters & Stephen Miller & Ronald Plasmeijer & Frank Hofman, 2007. "Uncertainty in traffic forecasts: literature review and new results for The Netherlands," Transportation, Springer, vol. 34(4), pages 375-395, July.
- Lyons, Glenn & Urry, John, 2005. "Travel time use in the information age," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(2-3), pages 257-276.
- David Metz, 2004. "Travel Time - Variable or Constant?," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 38(3), pages 333-344, September.
- Mokhtarian, Patricia L. & Chen, Cynthia, 2004. "TTB or not TTB, that is the question: a review and analysis of the empirical literature on travel time (and money) budgets," Transportation Research Part A: Policy and Practice, Elsevier, vol. 38(9-10), pages 643-675.
- Cirillo, C. & Axhausen, K.W., 2006. "Evidence on the distribution of values of travel time savings from a six-week diary," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(5), pages 444-457, June.
When requesting a correction, please mention this item's handle: RePEc:eee:trapol:v:18:y:2011:i:2:p:336-346. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.