Book Description

"In economic appraisals of road safety measures, determining which method to use for valuation is critical. Of the two main methods open to us, one accurately measures a non-relevant concept (the human capital method), while the other measures the correct parameter, but not very accurately (the willingness-to-pay method). The Round Table examined the many complementary aspects of the two and found that what is needed, above all, are practical guides for each method. The Round Table noted that governments should take charge of safety with the same forcefulness whatever the mode of transport. It also found that spending on road safety was generally adequate, but that the money was often not "wisely" spent. One of the more unconventional proposals put forward by this Round Table was that difficulties in producing major changes in driver behaviour signalled that more attention should be paid to educational measures and infrastructure investment. This publication reviews road safety policies and their economic evaluation. At a time when the authorities in many countries are beginning to set still more ambitious targets for those policies, the Round Table highlights the need for measures that are effective over the long term and economically efficient."--Publisher's description