Studies Conducted by M. Rosic et al on Risk Management Recently Reported (Method for selection of optimal road safety composite index with examples…

Studies Conducted by M. Rosic et al on Risk Management Recently Reported (Method for selection of optimal road safety composite index with examples from DEA and TOPSIS method)

By a News Reporter-Staff News Editor at Insurance Weekly News -- Investigators discuss new findings in Risk Management. According to news reporting originating in Belgrade, Serbia, by VerticalNews journalists, research stated, "Concept of composite road safety index is a popular and relatively new concept among road safety experts around the world. As there is a constant need for comparison among different units (countries, municipalities, roads, etc.) there is need to choose an adequate method which will make comparison fair to all compared units."

The news reporters obtained a quote from the research, "Usually comparisons using one specific indicator (parameter which describes safety or unsafety) can end up with totally different ranking of compared units which is quite complicated for decision maker to determine 'real best performers'. Need for composite road safety index is becoming dominant since road safety presents a complex system where more and more indicators are constantly being developed to describe it. Among wide variety of models and developed composite indexes, a decision maker can come to even bigger dilemma than choosing one adequate risk measure. As DEA and TOPSIS are well-known mathematical models and have recently been increasingly used for risk evaluation in road safety, we used efficiencies (composite indexes) obtained by different models, based on DEA and TOPSIS, to present PROMETHEE-RS model for selection of optimal method for composite index. Method for selection of optimal composite index is based on three parameters (average correlation, average rank variation and average cluster variation) inserted into a PROMETHEE MCDM method in order to choose the optimal one."

According to the news reporters, the research concluded: "The model is tested by comparing 27 police departments in Serbia."

For more information on this research see: Method for selection of optimal road safety composite index with examples from DEA and TOPSIS method. Accident Analysis and Prevention, 2017;98():277-286. Accident Analysis and Prevention can be contacted at: Pergamon-Elsevier Science Ltd, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, England. (Elsevier - www.elsevier.com; Accident Analysis and Prevention - www.journals.elsevier.com/accident-analysis-and-prevention/)

Our news correspondents report that additional information may be obtained by contacting M. Rosic, Rd Traff Safety Agcy Republ Serbia, Belgrade 11000, Serbia. Additional authors for this research include D. Pesic, D. Kukic, B. Antic and M. Bozovic.

Keywords for this news article include: Belgrade, Serbia, Europe, Risk Management.

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