Comparative analysis of approaches to measure the cost of casualties and fatalities in road safety: guidelines for Peru

Abstract

In the study of road safety in Peru, there are some empty spaces in the analysis that can be covered by the research. This is the case for calculating the costs of casualties and fatalities in order to incorporate such costs in the Cost-Benefit Analysis (CBA) of infrastructure projects developed to modify or create a road that enhances safety. Then the question of, which is the best way to calculate the cost of lives for traffic safety in Peru can arise. For this we need to understand the current traffic safety situation in the country, how the current data collection of victims is taking place and how it can be improved, which methods can be used to estimate the cost of fatalities and injuries, and how can we estimate this value for future years. To answer these questions a study of the current methodologies used in other countries is performed, applying those for which there is sufficient Peruvian information and comparing the outcomes as part of the conclusion of this research. The research process to understand the costs of casualties and fatalities is performed. This is performed by explaining the different methodologies known to calculate the diverse costs associated with traffic crashes.