Estimating the Human Cost of Transportation Accidents: Methodologies and Policy Implications

Estimating the Human Cost of Transportation Accidents: Methodologies and Policy Implications discusses the estimation methods needed to determine the monetary value of loss of life and quality of life when evaluating transportation safety programs, policies and projects. In addition, it highlights how to overcome the many challenges researchers face in choosing the right values, including estimating loss of life and life quality, examining strengths and weaknesses, and critically analyzing social costs and implications. This book will allow researchers to better formulate accurate social costs, select safety improvement values, and understand limitations.

Provides a comprehensive, theoretical, one-stop reference on non-market valuation methodologies, issues and policy implications for transportation health, safety and economics researchersHelps researchers better evaluate the actual total cost of road safety programs, policies and projects, including life quality valuation due to environmental impacts, such as harmful vehicle emissionsProvides valuable case studies from around the globe

1. Components of Social Cost 2. Value of Statistical Life 3. Human Capital Value 4. Revealed Preference Approach 5. Contingent Valuation Approach 6. Direction of Risk Changes 7. Choice Model 8. Heterogeneity 9. Latency 10. International Comparisons 11. The Value of Loss of Life Quality 12. Social and Policy Cost Implications