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The Economics of Railroad Safety
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Product Description
The Economics of Railroad Safety stems from the traditions of industrial organization and law and economics. The objective of the book is to examine the exact nature of the `safety problem': how much safety should be provided; what might hinder obtaining such a level of provision; and what we can do about it. Discussion of safety is often infused with emotion. By contrast, the author uses a logical approach to laying out the economics of safety, allowing the informed reader to understand exactly what constitute the main issues. Therefore, while the book deals specifically with freight railroads, the theory is applicable to all forms of transportation.
The Economics of Railroad Safety is divided into three main sections. The first section puts the railroad safety issue into context. The second section provides a consideration on the economics of safety. The objectives of the third section are to discuss why the market may not produce the socially-optimal level of safety, and to present the range of policy responses that might be deployed to deal with any market failures. The book concludes with a summary of the public policy recommendations on grade crossing, trespassers, industrial injuries, and operational safety.
The Economics of Railroad Safety stems from the traditions of industrial organization and law and economics. The objective of the book is to examine the exact nature of the `safety problem': how much safety should be provided; what might hinder obtaining such a level of provision; and what we can do about it. Discussion of safety is often infused with emotion. By contrast, the author uses a logical approach to laying out the economics of safety, allowing the informed reader to understand exactly what constitute the main issues. Therefore, while the book deals specifically with freight railroads, the theory is applicable to all forms of transportation.
The Economics of Railroad Safety is divided into three main sections. The first section puts the railroad safety issue into context. The second section provides a consideration on the economics of safety. The objectives of the third section are to discuss why the market may not produce the socially-optimal level of safety, and to present the range of policy responses that might be deployed to deal with any market failures. The book concludes with a summary of the public policy recommendations on grade crossing, trespassers, industrial injuries, and operational safety.
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Inside This Book
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First Sentence:
To the lay person the image of railroad safety is of spectacular train wrecks and burning tank cars. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
active warning devices, trespasser fatalities, inexperienced railroads, trespassing fatalities, direct safety regulation, bilateral accidents, delinquent railroads, preventive effort undertaken, unscrupulous railroads, market offer curve, employee casualties, freight car standards, railroad fatalities, safety inputs, crossbucks signs, employee fatalities, delinquency system, crossing fatalities, private crossings, public crossings, secondary bias, freight loss, expected accident costs, highway users, individual railroads Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Carmack Amendment, Great Britain, Indiana Harbor Belt, Wisconsin Central, Kansas City Southern, New York, Safety Appliance Act, Safety Review, Belt Railway of Chicago, British Rail, Burlington Northern, Florida East Coast, Ian Savage Table,
To the lay person the image of railroad safety is of spectacular train wrecks and burning tank cars. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
active warning devices, trespasser fatalities, inexperienced railroads, trespassing fatalities, direct safety regulation, bilateral accidents, delinquent railroads, preventive effort undertaken, unscrupulous railroads, market offer curve, employee casualties, freight car standards, railroad fatalities, safety inputs, crossbucks signs, employee fatalities, delinquency system, crossing fatalities, private crossings, public crossings, secondary bias, freight loss, expected accident costs, highway users, individual railroads Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Carmack Amendment, Great Britain, Indiana Harbor Belt, Wisconsin Central, Kansas City Southern, New York, Safety Appliance Act, Safety Review, Belt Railway of Chicago, British Rail, Burlington Northern, Florida East Coast, Ian Savage Table,