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Finding the costs and risks associated with highway traffic routes would allow companies and people alike to find routes that offer a comfortable amount of risk. With the amount of traffic data being collected at a more granular level the ability to find costs and risks associated with traffic routes given real time circumstances is plausible. Weighing these data and finding the areas that are most accident-prone allows for an assessment of the probability that an accident happens and what the cost of that accident would be for any given route. This information is very valuable for both safety and cost saving for drivers and insurance companies.
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Hipps et al. (2017) studied this question.
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