The Costs Of Accidents

Accident law is currently under review throughout the United States, and indeed the world, as present systems prove increasingly inadequate to handle the mounting costs of automobile accidents. In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them. "Calabresi's book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes."--Gerald M Meier

Accident law is currently under review throughout the United States, and indeed the world, as present systems prove increasingly inadequate to handle the mounting costs of automobile accidents. In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them. “Calabresi’s book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes.”—Gerald M Meier

As the debate over health care reform continues, costs have become a critical measure in the many plans and proposals to come before us. Knowing costs is important because it allows comparisons across such disparate health conditions as AIDS, Alzheimer's disease, heart disease, and cancer. This book presents the results of a major study estimating the large and largely overlooked costs of occupational injury and illness--costs as large as those for cancer and over four times the costs of AIDS. The incidence and mortality of occupational injury and illness were assessed by reviewing data from national surveys and applied an attributable-risk-proportion method. Costs were assessed using the human capital method that decomposes costs into direct categories such as medical costs and insurance administration expenses, as well as indirect categories such as lost earnings and lost fringe benefits. The total is estimated to be $155 billion and is likely to be low as it does not include costs associated with pain and suffering or of home care provided by family members. Invaluable as an aid in the analysis of policy issues, Costs of Occupational Injuryand Illness will serve as a resource and reference for economists, policy analysts, public health researchers, insurance administrators, labor unions and labor lawyers, benefits managers, and environmental scientists, among others. J. Paul Leigh is Professor in the School of Medicine, Department of Epidemiology and Preventive Medicine, University of California, Davis. Stephen Markowitz, M.D., is Professor in the Department of Community Health and Social Medicine, City University of New York Medical School. Marianne Fahs is Director of the Health Policy Research Center, Milano Graduate School of Management and Urban Policy, New School University. Philip Landrigan, M.D., is Wise Professor and Chair of the Department of Community Medicine, Mount Sinai Medical Center, New York.

Estimating the Human Cost of Transportation Accidents: Methodologies and Policy Implications discusses the estimation methods needed to determine the monetary value of loss of life and quality of life when evaluating transportation safety programs, policies and projects. In addition, it highlights how to overcome the many challenges researchers face in choosing the right values, including estimating loss of life and life quality, examining strengths and weaknesses, and critically analyzing social costs and implications. This book will allow researchers to better formulate accurate social costs, select safety improvement values, and understand limitations.

This report provides estimates of the costs of workplace injuries and work-related ill health in Great Britain.

Accident law, if properly designed, is capable of reducing the incidence of mishaps by making people act more cautiously. Since the 1960s, a group of legal scholars and economists have focused on identifying the effects of accident law on people's behavior. Steven Shavell’s book is the definitive synthesis of research to date in this new field.