Citation

Jones-Lee M, Spackman M. Res. Transp. Econ. 2013; 43(1): 23-40.

Copyright

(Copyright © 2013, Elsevier Publishing)

DOI

10.1016/j.retrec.2012.12.010

PMID

unavailable

Abstract

An extensive body of theoretical and empirical work has been undertaken in the UK since the middle of the last century on the estimation of values of safety for use in the appraisal of proposed transport projects, particularly road and rail. This research has focused largely on 'willingness-to-pay' based values in order to measure the strength of the travelling public's preference for marginal improvements in transport safety, relative to consumption of other goods and services. In terms of practical policy making, the research has resulted in a set of values for the prevention of statistical fatalities and non-fatal injuries that are applied not only in transport safety decision making, but also in other public sector contexts. This paper summarises the main findings of this research.