United States Department of Transportation
i
Economic Cost of Crashes in Idaho
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2016-06-01
[PDF-1.59 MB]
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Abstract:The Idaho Transportation Department’s Office of Highway Safety contracted with Cambridge Systematics (CS) for an assessment of the feasibility of calculating the Idaho-specific economic and comprehensive costs associated with vehicle crashes. Researchers produced two technical memoranda as part of the study. Technical Memorandum 1 reviews methods used to estimate crash costs nationally. The researchers describe “bottom-up” and “top-down” approaches that could potentially be used to estimate Idaho-specific costs. However, because a “bottom-up” approach would require extensive data collection, cleaning, and analysis, researchers recommend that ITD employ a “top- down” approach that relies on US Department of Transportation Value of Statistical Life (VSL) figures. Technical Memorandum 2 provides updated crash cost estimates for Idaho using the recommended “top down” approach. The researchers also examined how Idaho bears these crash costs from an economic perspective. This process involved estimating how costs split between monetary versus nonmonetary outlays and between those involved in crashes versus Idahoans at large. Finally, the researchers characterized potential cost savings that might be achieved by safety investments and resulting crash reductions.
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