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Valuation of transport safety. A survey of current knowledge

Authors: Kjartan Sælensminde
Report nr: 634/2003
ISBN: 82-480-0329-9
Language: Norwegian
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The report contains a survey of current knowledge concerning valuation of transport safety. The main conclusions are that: I) There are large variations in valuations of transport safety in various countries’ cost-benefit analyses. Whether human cost based on peoples's preferences are included makes the most of these differences. II) There is no empirical basis for differentiating the valuation of safety between various modes of transport. III) Because of serious weaknesses of current knowledge and previous valuation studies there is a need for new and better valuation studies. IV) Cost-benefit analysis should deal with uncertainty in valuation. No examples were found of any formalised uncertainty analyses being done in any country in connection with CBAs of transport projects.


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