Accident externality of driving: evidence from the London Congestion Charge

نویسندگان

چکیده

Abstract This paper estimates the marginal accident externality of driving in Central London by exploiting variation traffic flow induced Congestion Charge Zone using an instrumental variable approach. The charge attributed to a 9.4% reduction flow, which resulted less than proportional 6.0% and 7.6% decrease accidents slight injuries, 6.5% increase serious injuries/fatalities. Our preferred indicate that accident, injuries injuries/fatalities rate elasticities with respect are ?0.36, ?0.19 ?1.65, respectively. These imply external benefit road safety from additional kilometer driven is approximately £0.16. positive, as driver along congested roads decreases risk severity collisions for other users slowing others down increasing awareness.

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ژورنال

عنوان ژورنال: Journal of Economic Geography

سال: 2021

ISSN: ['1468-2710', '1468-2702']

DOI: https://doi.org/10.1093/jeg/lbab012