COST-BENEFIT ANALYSIS AND COST-EFFECTIVENESS ANALYSIS OF ROAD SAFETY MEASURES IMPLEMENTED IN MEXICAN ROADS

摘要

The paper presents the results of the appraisal of a series of road safety measures implemented in Mexican roads during the period 2001-2005. The study identifies the best road safety measures implemented, based on net benefits, their practical effectiveness in reducing accidents, deaths, injuries and property damage. Based on the human capital approach and the International Road Assessment Programme (iRAP) methodology, this study also estimates the Value of Statistical Life and the value of a serious injury for the Mexican case. Evaluation results provide two set of rankings with the best road safety measures, using Cost-Effectiveness Analysis (CEA) and Cost-Benefit Analysis (CBA). The results indicate that signaling is by far the most efficient road safety measure implemented in Mexican roads. Moreover, within the best practice, there are combinations of safety measures where signaling appears in almost every combination. Finally, conclusions and recommendations for further research are given.