The empirical literature testing the economic theory of crime has extensively studied the relative importance of the probability and the severity of punishment with reference to planned criminal activities. There are, however, also unplanned crimes and in this paper we focus on a very serious...

The empirical literature testing the economic theory of crime has extensively studied the relative importance of the probability and the severity of punishment with reference to planned criminal activities. There are, however, also unplanned crimes and in this paper we focus on a very serious...

This paper documents a large educational gradient in traffic fatality rates and investigates its source. Compared to individuals with a college education, those with at most a high school diploma are more than four times as likely to die in a traffic accident, a gradient exceeding that for...

How much risk does a heavy truck impose on highway safety? To answer this question, we look at the rapid influx of trucks during the shale gas boom in Pennsylvania. Using quasi-experimental variation in truck traffic, we isolate the effect of adding a truck to the road. We find an additional...

Measuring the relative likelihood of fatal crash involvement for different types of drivers would seem to require information on both the number of fatal crashes by driver type and the fraction of drivers on the road falling into each category. In this paper, however, we present a methodology...

In order to examine how no-fault motor vehicle insurance affects accident rates, insurance regimes in various countries are compared. A random effects model on IRTAD fatality data of 29 countries for the years 2005 to 2010 reveals that some motor vehicle insurance systems increase moral hazard....

Accident externalities are among the most important external costs of road transport. We study the regulation of these when insurance companies have market power. Using analytical models, we compare a public-welfare maximizing monopoly with a private profit-maximizing monopoly, and markets where...

This study analyzes how the willingness to pay (WTP) for a risk reduction for traffic accidents varies depending on the specific traffic safety measures and whether they are framed as public or private goods. Building on previous studies, we designed and conducted a contingent valuation survey...

This study analyzes how the willingness to pay (WTP) for a risk reduction for traffic accidents varies depending on the specific traffic safety measures and whether they are framed as public or private goods. Building on previous studies, we designed and conducted a contingent valuation survey...

The rate of truck crashes and fatalities has more than doubled over the last 10 years.The minimum levels of insurance were set in 1980, have not changed in 41 years, and are now completely inadequate.Trucking insurance is decreasing in cost and makes up only around 4% of operating costs.Raising...