A disaggregated model of the marginal external costs of road accidents
imposed by different road users is developed. The model explicitly sp
ecifies the adjustment of road users to increases in accident risks im
posed by additional road use and is used to estimate the marginal exte
rnal costs of road accidents. The results, under certain assumptions,
are up to 50% less than those obtained using the methods of previous s
tudies. However, the adjustment to the increased risks of accidents le
ads to other costs, such as congestion and reduced pedestrian mobility
. These costs should be included in a comprehensive analysis.