An applied economy-look at transport safety
The papers presented at this conference mainly concern the issues of quantifying societal risk and setting standards to be observed in situations where there is a tiny but finite risk of catastrophic accident, causing multiple deaths to members of the general public, for example, in the context of operating certain types of industrial installations, such as nuclear power stations, or chemical plants; in transporting hazardous materials; or in determining investment in facilities to reduce the risk of major flooding. In approaching these issues, applied economists tend to work with this type of analytical framework shown in Figure 1.
KeywordsPetroleum Product Road Transport Nuclear Power Station Freight Transport Accident Rate
Unable to display preview. Download preview PDF.