THE PERCEPTION OF RISK AND ITS IMPLICATIONS FOR EVALUATING SAFETY MEASURES

The author suggests that it is necessary to place a monetary value on safety for use in the decision-making process. He considers the topic of perception of risk and what the implications might be for the evaluation of safety measures such as Automatic Train Protection (ATP). First, progress in the understanding of risk perception is summarised. Risk management practices in non-rail sectors are then examined including the case of radiological protection, the evaluation of trunk road schemes and the off-shore oil industry. The application of risk perception to the railways is discussed, in particular willingness-to-pay and the installation of ATP. For the covering abstract of the conference see IRRD 872231.

• Corporate Authors:

  University College London

  Centre for Transport Studies, Gower Street
  London,   United Kingdom  WC1E 6BT
• Authors:
  • Ball, D J
• Conference:
  • VALUE FOR MONEY IN TRANSPORT SAFETY MEASURES. A RECORD OF A ONE DAY CONFERENCE HELD AT THE ROYAL SOCIETY OF MEDICINE, 1 WIMPOLE STREET, LONDON ON 26 JULY 1994
• Publication Date: 1995-1

Language

• English

Media Info

• Features: References;
• Pagination: 39 p.

Subject/Index Terms

• TRT Terms: Costs; Hazards; Railroad transportation; Risk taking; Safety
• ITRD Terms: 224: Cost; 1173: Rail bound transport; 9150: Risk; 2259: Risk taking; 1665: Safety
• Subject Areas: Finance; Railroads; Safety and Human Factors;

Filing Info

• Accession Number: 00712344
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• Files: ITRD
• Created Date: Oct 24 1995 12:00AM