The Peltzman Effect
My friend Allen Sanderson points out these headlines in today's Wall Street Journal:
Safety Gear Helps Reduce U.S. Traffic Deaths
and
Cities Target Elevated Levels of Pedestrian Deaths
As Sam Peltzman pointed out years ago, when cars get safer, drivers are less careful, increasing externalities on pedestrians.
Safety Gear Helps Reduce U.S. Traffic Deaths
and
Cities Target Elevated Levels of Pedestrian Deaths
As Sam Peltzman pointed out years ago, when cars get safer, drivers are less careful, increasing externalities on pedestrians.
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