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A Study on the Development of an Estimation Model: The Psychological Cost of Traffic Accidents  

Yu, Jeong-Bok (한국교통연구원)
Shon, Eui-Young (서울시립대학교 교통공학과)
Publication Information
Journal of Korean Society of Transportation / v.26, no.3, 2008 , pp. 211-221 More about this Journal
Abstract
This dissertation studied the psychological cost, which converted the mental pain suffered by the victim of a traffic accident and his/her family, friends and people around him/her into social costs. Three methodologies - Choice Experiments, Direct Question and Dichotomous Choice Question - were used to design questionnaires, and models were built for each questionnaire design method. When building models, a logit model was used, which is used most frequently in probabilistic choice model. And the tobitmodel was used to make direct questionnaires. When verifying these models, although there were some differences in each model, suitability of most models and credibility of each coefficient were meaningful around the credibility level of 95%. According to the analysis, domestic psychological cost produced through the assessment model of psychological cost was 15.63 million won per person or 5.1 trillion in total, assuming 37.1% of total traffic accident cost.
Keywords
Accident cost; Psychological cost; Direct question CVM; Dichotomous choice question CVM; Choice Experiments;
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