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.
University College LondonCentre for Transport Studies, Gower Street
London, United Kingdom WC1E 6BT
- Ball, D J
- Publication Date: 1995-1
- Features: References;
- Pagination: 39 p.
- 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;
- Accession Number: 00712344
- Record Type: Publication
- Source Agency: Transport Research Laboratory
- Files: ITRD
- Created Date: Oct 24 1995 12:00AM