Kourtis E.-M., Ziakopoulos A., Theofilatos A., Yannis G., “Modelling the economic impacts of road crashes in Greece”, Proceedings of the 8th Transport Research Arena TRA 2020 Conference (Helsinki, Finland, 27-30 April 2020). Conference Cancelled.

This research aims to quantify the willingness-to-pay attitude of the Greek public towards mitigating road crash risk and thus crash involvement in the macroscopic scale. An online questionnaire survey was designed and distributed to participant drivers. Two scenarios of willingness-to-pay in order to reduce crash involvement probability were included: 20% and 50% reductions in probability; 238 valid responses were collected and analyzed. Ordinal and multinomial logistic regression models were used to correlate driver preferences between the two scenarios and several independent variables, in contrast with the do-nothing (0% reduction) scenario. Results indicated that most drivers are very positively predisposed towards a road crash risk reduction. The choice between low and high reductions depends on trip duration and cost increases, family situation, driving experience and annual family income. The calibrated WTP models are used in a case study to calculate the human cost (value of statistical life) in Greece during 2016.