The Microeconomic Analysis of the External Costs of Road Accidents

John Peirson, Ian Skinner and Roger Vickerman

Studies in Economics from School of Economics, University of Kent

Abstract: A disaggregated model of the marginal external costs of road accidents imposed by different road users is developed. The model explicitly specifies the adjustment of road users to increases in accident risks imposed by additional road use and is used to estimate marginal external costs of road accidents. The results, under certain assumptions, are up to 50% less than those obtained using the methods of previous studies. However, the adjustment to the increased risks of accidents leads to other costs, such as congestion and reduced pedestrian mobility. These costs should be included in a comprehensive analysis.

Keywords: Road Accidents; Externalities (search for similar items in EconPapers)
JEL-codes: D11 D12 D62 D80 J29 (search for similar items in EconPapers)
Date: 1996-03
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Citations: View citations in EconPapers (7)

Published in Economica, 1998, 65, pp.429-440

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Journal Article: The Microeconomic Analysis of the External Costs of Road Accidents (1998)
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