MONETARY EVALUATION AND COMPARISON OF SAFETY IMPROVEMENTS: THE CASE OF LIGHT GOOD VEHICLES IN EUROPE
Tomer Toledo and
Articles, 2009, vol. 36, issue 2
This paper focuses on the monetary evaluation and comparison of various safety measures for improving traffic safety for light goods vehicles (LGVs) in the EU-25 countries. In the last years, both the number of LGVs and their participation in accidents significantly increased. The improvements evaluated include the installation of active speed limiters with two different set speeds, electronic stability program (ESP) systems, digital tachographs, event data recorders (EDR), seat belt reminder and seat-belt lock systems, and implementation of a professional driver training program. The monetary evaluation of the various safety measures has been done using cost benefit analysis (CBA). The CBA has been carried out by means of B/C ratios and includes a sensitivity analysis, as well as a computation of the cost per life saved and the payback period. Our results indicate that speed limiter set a the lower speed, a professional driver training program and devices to increase seatbelt wearing are economically justified and should serve as the core of safety improvements for LGVs. These results remain robust even if large changes occur in the unit costs or in the safety effects of these measures.
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Persistent link: https://EconPapers.repec.org/RePEc:jte:journl:2009:2:36:1
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