MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS

The article reviews the issues of measuring the value of human life as well as the socio-economic costs of road accidents. The vast amount of car accidents and the high volume of road accident deaths reflect the relevance of this topic. According to research of international organizations, Russia’s...

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Autor principal:	N. A. Popov
Formato:	article
Lenguaje:	RU
Publicado:	Real Economics Publishing House 2019
Materias:	value of human life socio-economic costs of road accidents human capital ‘willingness to pay’ approach Risk in industry. Risk management HD61
Acceso en línea:	https://doaj.org/article/c482f13a5098465887de2496aa0e9955
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spelling	oai:doaj.org-article:c482f13a5098465887de2496aa0e99552021-11-19T10:42:00ZMEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS2618-947X2618-998410.17747/2618-947X-2019-3-252-260https://doaj.org/article/c482f13a5098465887de2496aa0e99552019-11-01T00:00:00Zhttps://www.jsdrm.ru/jour/article/view/852https://doaj.org/toc/2618-947Xhttps://doaj.org/toc/2618-9984The article reviews the issues of measuring the value of human life as well as the socio-economic costs of road accidents. The vast amount of car accidents and the high volume of road accident deaths reflect the relevance of this topic. According to research of international organizations, Russia’s road safety levels are close to those found in developing countries. This fact raises the need for developing a new policy on ensuring road safety based on scientifically objective measures of potential socio-economic effects. Namely, the article analyzes how the current approaches and methods for measuring the value of human life can be adapted to assess the effects of fatal road accidents. The author was able to establish the most significant losses that occur from car accidents as well as the most widely applied methods used to quantify these costs. The conceptual framework of these methods relies on the Value of Human Capital and Willingness To Pay approaches. Among the main challenges of implementing these frameworks in Russia, the author cites the lack of statistical data that can be used to conduct these assessments. As part of the literature review the author assessed both Russian and foreign academic papers, that have previously focused on the issues of measuring socio-economics effects in both developed and developing nations. By analyzing the best global practices on road safety measures, the author was able to establish the main shortfalls of Russia in this area. In conclusion, the author provides a set of recommendations on enhancing the current statistical evidence base and improving ongoing monitoring systems for assessing the socio-economic costs of road accidents.N. A. PopovReal Economics Publishing House articlevalue of human lifesocio-economic costs of road accidentshuman capital‘willingness to pay’ approachRisk in industry. Risk managementHD61RU Strategičeskie Rešeniâ i Risk-Menedžment, Vol 10, Iss 3, Pp 252-260 (2019)
institution	DOAJ
collection	DOAJ
language	RU
topic	value of human life socio-economic costs of road accidents human capital ‘willingness to pay’ approach Risk in industry. Risk management HD61
spellingShingle	value of human life socio-economic costs of road accidents human capital ‘willingness to pay’ approach Risk in industry. Risk management HD61 N. A. Popov MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS
description	The article reviews the issues of measuring the value of human life as well as the socio-economic costs of road accidents. The vast amount of car accidents and the high volume of road accident deaths reflect the relevance of this topic. According to research of international organizations, Russia’s road safety levels are close to those found in developing countries. This fact raises the need for developing a new policy on ensuring road safety based on scientifically objective measures of potential socio-economic effects. Namely, the article analyzes how the current approaches and methods for measuring the value of human life can be adapted to assess the effects of fatal road accidents. The author was able to establish the most significant losses that occur from car accidents as well as the most widely applied methods used to quantify these costs. The conceptual framework of these methods relies on the Value of Human Capital and Willingness To Pay approaches. Among the main challenges of implementing these frameworks in Russia, the author cites the lack of statistical data that can be used to conduct these assessments. As part of the literature review the author assessed both Russian and foreign academic papers, that have previously focused on the issues of measuring socio-economics effects in both developed and developing nations. By analyzing the best global practices on road safety measures, the author was able to establish the main shortfalls of Russia in this area. In conclusion, the author provides a set of recommendations on enhancing the current statistical evidence base and improving ongoing monitoring systems for assessing the socio-economic costs of road accidents.
format	article
author	N. A. Popov
author_facet	N. A. Popov
author_sort	N. A. Popov
title	MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS
title_short	MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS
title_full	MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS
title_fullStr	MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS
title_full_unstemmed	MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS
title_sort	measuring socio-economic costs of road accidents: approaches and methods
publisher	Real Economics Publishing House
publishDate	2019
url	https://doaj.org/article/c482f13a5098465887de2496aa0e9955
work_keys_str_mv	AT napopov measuringsocioeconomiccostsofroadaccidentsapproachesandmethods
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MEASURING SOCIO-ECONOMIC COSTS OF ROAD ACCIDENTS: APPROACHES AND METHODS

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