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Author:Pedersen, P.A.
Title:Moral hazard in traffic games
Journal:Journal of Transport, Economics and Policy
2003 : JAN, VOL. 37:1, p. 47-68
Index terms:Game theory
Moral hazard
Safety
Traffic
Language:eng
Abstract:In this article, a two-person game-theoretical model is suggested in order to explain traffic safety behaviour among road users. The outcome of a road user is dependent on her and her opponentÂ’s attitude towards aggression, her and her opponentÂ’s level of attention, and on external traffic safety conditions. The existence and size of moral hazard effects for different outcomes of the game are discussed, and an evolutionary equilibrium, endogenously defining the share of aggressive road users, is deduced, and shown most likely to increase as external safety improvements take place.
SCIMA record nr: 248562
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