Risk compensation, as described so well my Adams, is alive and well on the roads. Ride an "ordinary" bicycle, and I am constantly being passed too close for comfort, with car drivers giving very little thought to how they're passing me. Riding my "dangerous" Windcheetah recumbent trike I find that car drivers suddenly have great respect for me, taking care when passing and giving me lots of room. The trick for cycling is to look as "dangerous" and as unusual as possible. Just towing a trailer helps
I think the implications of Risk Compensation are much more extensive than that. It casts in doubt the whole Road Safety industry method. Crash proofing cars and roads has produced an environment more and more dangerous for the vulnerable. Cycle accident rates have only been kept down by risk compensation by cyclists. More and more actual and prospective cyclists compensate for increased risk by removing themselves from the road. Those remaining take more and more care, choose quieter roads etc. The movement towards wearing helmets is an example. In the face of invulnerable drivers and the unwillingness of police and CPS to protect us, a scrap of polystyrene is not quite enough compensation.