Publication Details

The value of research about the safety effect of actions

Type: conferencePapers

Author(s): Hauer, Ezra; Bonneson, James A.; Council, Forrest M.; Srinivasan, Raghavan; Bahar, Geni Brafman

Publisher: Transportation Research Board

Publication Date: 2012

Address: Washington, DC

Abstract: Money ought to be spent on research that promises most value for the buck; but how is one to estimate the value?. This paper suggests a logical and quantitative approach to estimating the $-value for a class of proposed road safety research projects – research to estimate the safety effect of various actions. The aim of such research is to improving our ability to predict. The more accurately one can predict the safety effect of some action the fewer incorrect decisions will be made. With more decisions correct investment is more cost-effective. This is what gives such research its value. The task of assigning $-value to a proposed research is doable. The logic and the computations are described. The estimated $-value, when coupled with the cost of research, can used to prioritize proposed research projects

Conference name: 91st Annual Meeting of the Transportation Research Board