Integrating Accident and Travel Delay Externalities in an Urban Speed Reduction Context

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The recognition that accident externalities are not independent of travel delays, and hence travel time savings and losses will promote a serious policy rethink about strategies designed to reduce the risk of exposure to accidents. The evidence is designed to identify that additional externality that has to be factored into the accident costs to recognise the other sources of externality typically ignored in accident costing and speed restriction studies. The implication on the development of a national program of road safety is likely to be profound.