ACCIDENT COSTS: SOME ESTIMATES FOR USE IN ENGINEERING- ECONOMY STUDIES

THE PRIMARY OBJECTIVE OF THIS PAPER IS TO DEVISE AND IMPLEMENT A PROCEDURE FOR ESTIMATING ACCIDENT COSTS, BASED ON COST DATA DEVELOPED BY SERVERAL STATE HIGHWAY DEPARTMENTS THAT ARE READILY APPLICABLE FOR USE IN ENGINEERING-ECONOMY ANALYSIS. THE OVERALL APPROACH IIS TO GENERATE WEIGHTED AVERAGES FOR THE COSTS OF ACCIDENTS WHEREIN THE ESTIMATES FROM PREVIOUS STUDIES PROVIDE THE DIRECT COST INPUT AND THE 1969 TEXAS ACCIDENT EXPERIENCE PROVIDES THE WEIGHTS TO BE ASSIGNED TO THESE COSTS. DIRECT COSTS INCLUDE PROPERTY DAMAGES, MEDICAL COSTS, LEGAL AND COURT FEES, VALUES FOR LOSS OF WORK TIME AND LOSS OF VEHICLE USE, AND DAMAGES AWARDED IN EXCESS OF COSTS. AN INVOLVEMENT IS THAT PORTION OF AN ACCIDENT RELATING TO A SINGLE VEHICLE AND THE DEATH, INJURY, OR PROPERTY DAMAGE ASSOCIATED WITH IT. USING THE INVOLVEMENT AS THE BASIC STATISTICAL UNIT, THE DATA ARE CROSS-CLASSIFIED BY VARIOUS COMBINATIONS OF ACCIDENT SEVERITY, VEHICLE TYPE, AND ACCIDENT TYPE. FOR EACH OF THE RESULTING CATEGORIES, THE COST COMPONENTS ARE ADJUSTED BY PRICE INDEX INFLATORS, AND A MEAN INVOLVEMENT COST IS CALCULATED FROM THESE ADJUSTED DATA. IN ADDITION TO THE DIRECT COST PER INVOLVEMENT, ANOTHER TYPE OF COST, THE PRESENT VALUE OF EXPECTED FUTURE EARNINGS, IS ESTIMATED FOR INVOLVEMENTS WHERE PERSONS WERE FATALLY INJURED. AN ESTIMATE FOR THE COST OF AN ACCIDENT CAN BE OBTAINED BY COMBINING THE APPROPRIATE DIRECT COST FOR THE VEHICLES INVOLVED WITH THE PRESENT VALUE OF FUTURE EARNINGS LOST DUE TO FATALITIES OCCURRING IN THE ACCIDENT.

Media Info

  • Media Type: Print
  • Features: Figures; References;
  • Pagination: pp 66-74
  • Monograph Title: Transportation systems planning and resource allocation
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00202420
  • Record Type: Publication
  • ISBN: 0309022517
  • Files: TRIS, TRB
  • Created Date: May 15 1974 12:00AM