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Net Monetary Benefit of Cost-Effective Rollover Protective Structures (CROPS): An Estimate of the Potential Benefits of the CROPS Research Project
Published by the American Society of Agricultural and Biological Engineers, St. Joseph, Michigan www.asabe.orgCitation: Journal of Agricultural Safety and Health. 14(3): 351-363. (doi: 10.13031/2013.24568) @2008
Authors: K. Owusu-Edusei Jr.
Keywords: Cohort analysis, Cost-benefits analysis, CROPS, Net monetary benefit, ROPS
This study builds on an earlier study to examine the net monetary benefit of installing cost-effective rollover protective structures (CROPS) instead of utilizing existing ROPS retrofits for all estimated non-ROPS tractors in the year 2004. With the conservative estimates used in the analyses, results indicate that compared to the baseline option (no protective structure), the Install-ROPS option results in a loss of $310 million to society, while the Install-CROPS option results in a net monetary benefit of $276 million over a 20-year period. A comprehensive sensitivity analysis indicated that, for the extreme values (estimates) used, the estimated net monetary benefit is most sensitive to the probability of tractor overturn. Break-even analysis indicated that the unit cost of intervention for the Install-CROPS option can increase by about 58% and still be able to pay for itself. Even when the minimal unit cost of intervention for ROPS is used, the payback period is reduced substantially for the Install-CROPS option, by almost half the payback period. Finally, compared to existing ROPS retrofits, the net monetary benefit is $586 million, representing an estimate of the potential benefits of the CROPS research.(Download PDF) (Export to EndNotes)