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Economic Evaluation of Road Traffic Safety Measures

Author

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  • Gul, Ejaz

Abstract

The number of road traffic casualties is still very lofty and the trend shows a boost with each passing day. The road traffic accidents involve fatalities due to which economic resources are damaged and the productivity of the economy is correspondingly impaired. Costs resulting from traffic accidents represent the largest single part of the overall cost of traffic to the economy. Knowledge about the harm of these traffic accidents to the economy is essential if measures to reduce road traffic accidents are to be identified and initiated. Once an economic assessment of road safety measures has been made, work on improving safety in accordance with economic criteria can be organized as efficiently as possible. Towards this end, it is necessary to opt for measures that are likely to be successful in a given situation. Current research is regarding the evaluation of road traffic safety measures in Pakistan and its economical effects based on available data. The research reveals that road accidents have key influence on the economic statistics of the country. The study presents a valuable tool for policy formulation on the road safety regulations in the country.

Suggested Citation

  • Gul, Ejaz, 2013. "Economic Evaluation of Road Traffic Safety Measures," MPRA Paper 48350, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:48350
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    File URL: https://mpra.ub.uni-muenchen.de/48350/1/MPRA_paper_48350.pdf
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    References listed on IDEAS

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    1. Eckel, Catherine C. & Grossman, Philip J., 2008. "Men, Women and Risk Aversion: Experimental Evidence," Handbook of Experimental Economics Results, Elsevier.
    2. Brennan, Timothy J., 1993. "The Futility of Multiple Utility," Economics and Philosophy, Cambridge University Press, vol. 9(01), pages 155-164, April.
    3. Keeney,Ralph L. & Raiffa,Howard, 1993. "Decisions with Multiple Objectives," Cambridge Books, Cambridge University Press, number 9780521438834.
    4. Broome,John, 1999. "Ethics out of Economics," Cambridge Books, Cambridge University Press, number 9780521642750.
    5. Hausman, Daniel M & McPherson, Michael S, 1993. "Taking Ethics Seriously: Economics and Contemporary Moral Philosophy," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 671-731, June.
    6. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. #HEJC papers for August 2013
      by academichealtheconomists in The Academic Health Economists' Blog on 2013-08-01 04:00:48

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    Cited by:

    1. repec:pid:journl:v:55:y:2016:i:4:p:805-822 is not listed on IDEAS
    2. Ejaz Gul & Imran Sharif Chaudhry, 2014. "Qualitative Assessment of Energy Initiative: Case Study from Liberia," International Journal of Energy Economics and Policy, Econjournals, vol. 4(3), pages 360-372.

    More about this item

    Keywords

    Economic; Evaluation; Traffic; Safety; Accidents; Statistical Analysis.;

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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