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An aggregative analysis of road accidents
Towards a social policy
Optimal speed on the motorway and some shadow prices
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accident analysis accident costs accident externality accident policy accident prevention accident rate accident research accident victims activity aggregate allocation approach assume basis behaviour Calabresi cause chapter classiﬁcation coefﬁcients consumer cost-beneﬁt analysis curve deﬁned deﬁnition difﬁcult distribution economists effect efﬁciency elasticity empirical equation estimate example expected fatalities ﬁgures ﬁnd ﬁrst implications increase individual inﬂuence loss-spreading marginal beneﬁt marginal cost market failure measures Mishan motorway numeraire optimal average speed optimal speed Paretian Pareto Pareto criterion Pareto optimal particular period personal injury petrol price positive potential problem product liability property rights relation relationship road accidents road casualties safety seat belt shadow prices signiﬁcant slight injuries Smeed social cost social policy speciﬁc speed limit statistical suggest Table technical theoretical theory tort tort system trafﬁc speed trafﬁc volume University of Nottingham valuation variables volume of trafﬁc weather welfare welfare economics