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Exploring the price of motor vehicle collisions – A compensation cost approach
2020
Transportation Research Interdisciplinary Perspectives
Motor Vehicle Collisions (MVCs) accounted for an economic cost of $242 billion in the United States in 2010. A significant portion (42%) was associated with factors considered for compensation estimatesmedical costs, lost earnings and reduced household productivity. This study proposes a methodology that accounts for these costs by using expected compensation costs (ECCs). Our approach differs from prior studies as we consider all injuries suffered by an individual in the MVC, rather than only
doi:10.1016/j.trip.2020.100097
fatcat:ztbekujwfve2td7md3s4vv4afa