A CRITICAL APPRAISAL OF THE APPLICABILITY OF BENEFIT-COST ANALYSIS TO HIGHWAY TRAFFIC SAFETY

The elements of benefit-cost analysis were identified. A determination was made as to the extent of availability of information needed for application to highway traffic accident loss reduction measures. It was found that important information is currently not being sufficiently quantifiable, in addition to considerable uncertainty of the quantifiable information available. Most important are the lack of: an adequate measure of injury severity reduction; measures of non-economic losses; and any knowledge of the time preference for life saving and injury reduction. It was concluded that performing benefit-cost analyses can provide useful insights to aid decision making, but that to rely on benefit-cost ratios or similar summary results is likely to be misleading.

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  • Supplemental Notes:
    • Sponsored by the Insurance Institute for Highway Safety, Washington, D.C.
  • Corporate Authors:

    Pergamon Press, Incorporated

    Maxwell House, Fairview Park
    Elmsford, NY  USA  10523
  • Authors:
    • Joksch, H C
  • Publication Date: 1975-6

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00125342
  • Record Type: Publication
  • Source Agency: Highway Safety Research Institute
  • Files: TRIS
  • Created Date: Dec 16 1975 12:00AM