THE TREATMENT OF ACCIDENTS IN INVESTMENT APPRAISAL

This study entails a comprehensive review of the principles, theory and practice behind the economic analysis of accident prevention measures. The introduction comprises an overview of the place of accidents and specifically road accidents in the health sector. The relative risks and importance of different accident producing categories are examined. Chapter 2 traces the historical and political development of accidents and accident reduction measures and examines the different systems and resource objectives which are possible to improve highway safety. In chapter 3, the different cost/benefit methodologies are explained and shows the types of optimisation approaches which are possible to deal with economic and social costs. The principles of compensation and insurance are dealt with in chapter 4 and the way in which they relate to the evaluation of accident losses is suggested. The supply of road accident data and the methods of evaluation of this information is demonstrated, the different types of accident reduction measures are set out in chapter 5 and costs and effects of these are analysed. The treatment for risk and uncertainty is suggested and the development of safety programmes detailed. In chapter 6, a survey of the economic value of man in society and the different approaches to its measurement is detailed together with problems of the community's rate of time preference and the attitude to public utilities. Chapter 7 examines the detailed treatment of accident statistics and methods of determining priorities and budgets for expenditure on safety measures. The final chapter summarises the welfare implications and political treatment of accident policy. The problems of assessment and investment in the safety field are brought out and recommendations are made on possible improvements to the efficient allocation of resources in the health and accident sector.(a) /TRRL/

• Corporate Authors:

  Polytechnic of Central London, England

  35 Marylebone Road
  London NW1,   England 
• Authors:
  • MARTIN, I W
• Publication Date: 1972-9

Language

• English

Media Info

• Features: Figures; References; Tables;
• Pagination: 120 p.

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Budgeting; Costs; Crash rates; Crash severity; Crashes; Economic analysis; Fatalities; Hazards; High risk locations; Indemnity; Insurance; Investments; Methodology; Policy; Prevention; Risk assessment; Safety; Sociology; Statistics; Strategic planning; Theses
• Geographic Terms: United Kingdom
• ITRD Terms: 1643: Accident; 1663: Accident black spot; 1661: Accident prevention; 224: Cost; 226: Cost benefit analysis; 1602: Fatality; 1548: Indemnity; 227: Investment; 9102: Method; 173: Policy; 2253: Sociology; 6555: Statistics; 8597: Thesis; 8119: United Kingdom
• Subject Areas: Data and Information Technology; Economics; Finance; Highways; Policy; Safety and Human Factors; Security and Emergencies; Society; I10: Economics and Administration; I81: Accident Statistics; I82: Accidents and Transport Infrastructure;

Filing Info

• Accession Number: 00159730
• Record Type: Publication
• Source Agency: Transport and Road Research Laboratory (TRRL)
• Report/Paper Numbers: Monograph
• Files: ITRD, TRIS
• Created Date: Mar 29 1978 12:00AM