Models for Estimating Human Capital Losses Due to Traffic-Related Deaths

The article provides new approaches to estimating the losses caused b traffic-related deaths with the income-based method of measuring the human capital. We developed an economical and mathematical model for measuring the human capital which was lost in traffic accidents during a reporting period. The model is based on estimation of human capital according to the yield curve with regard to age and level of education. The article describes the benefits of the proposed method which bridges a gap between estimating the production losses as losses of the state and social losses caused by road traffic deaths. The calculation results show higher loss estimates - a price which is to be paid by the country for road fatalities of its citizens - than what is stated by the official reports based on existing techniques.