Blackburn saw off Manchester City to grab a first win of the season and climb off the foot of the Premiership.
Pedersen (centre) was involved in three of Blackburn's four goals
City missed a host of chances before Trevor Sinclair headed a Morten Gamst Pedersen free-kick into his own net.
Joey Barton finished off a fine move to sidefoot the visitors level but another inswinging Pedersen free-kick and Andre Oojer's own goal made it 2-2.
But Rovers were much improved after the break and Benni McCarthy tapped in the third and sub Paul Gallacher sealed it.
City boss Stuart Pearce will be stunned by his side's failure to pick up their first away Premiership points of the season.
With just one win and two Premiership goals to show for their four top-flight games so far this season the game hardly promised a goal fest.
But some fine attacking play from the visitors, some comical defending from both sides and a couple of superb Pedersen free-kicks meant four goals in a pulsating opening period.
City showed their attacking intentions within seconds of the kick-off, with a Sinclair shot being tipped round the post by Brad Friedel.
Dickov smashed a shot wide from 18 yards and then whipped in a cross-shot that was comfortably saved by Friedel.
It was all City. Trabelsi curled a fine shot past the post after good work by the overlapping Micah Richards and Barton then somehow contrived to shoot over from the 12 yards after being teed up by Richards.
But Pearce's side were made to pay for their poor finishing when Pedersen whipped in a left-footed free-kick from the right-hand side of the box and Sinclair headed it past the helpless Nicky Weaver.
Pearce (left) and Hughes were left frustrated for different reasons at Ewood Park
But Rovers failed to make the most of their good fortune. Lucas Neill had to nod a Barton free-kick off the line and Barton then shot straight at Friedel after racing through on goal.
Finally City did get on the scoresheet when a lovely lay-back by Corradi and a glorious first-time pass from Dickov let in Barton, who took his time before stroking the ball past Friedel.
Pedersen put Rovers ahead again, when another vicious inswinging free-kick from the right eluded everyone and left Weaver rooted to the spot for the second time.
But almost from the kick-off Corradi broke clear on the right after a neat passing move and his cross was deflected in by the unfortunate Oojer as he ran back towards goal.
Rovers started the second-half like a team who had been on the end of a Mark Hughes tongue-lashing at half-time.
The ineffective Francis Jeffers and Tugay came off and Shabani Nonda and the busy Aaron Mokoena bought fresh energy to Blackburn's play.
With Rovers on top, Richard Dunne lost concentration from a throw-in allowing Nonda to play in the impressive Pedersen.
The Norwegian got to the byline and his cross was tapped in by McCarthy - his third goal in six games for Rovers.
Richards almost drew City level late on but headed over from six yards and Rovers substitute Paul Gallgher ensured the points stayed at Ewood Park when he coolly side-footed in after a good run and cross from Brett Emerton.
Blackburn Rovers boss Mark Hughes:
"This was a big psychological result for us.
"It was important we got our first win, and in particular our first at home where a lot of our success for last season was based.
"With this win we've moved up several places in the table, but it's still very early days and no-one should get too excited or too anxious at this stage of the season.
"This will obviously help us and settle us down and I hope we can now look forward to another successful season - but that's based on the second half performance, not the first."
Manchester City manager Stuart Pearce:
"It would have been a different story if we had taken those chances in the first half.
"But we gifted Blackburn too many easy goals. We shot ourselves in the foot in the second half.
"On the chances we created and the run of play this was a game we should have got something from, but we haven't done that and now we have to look at ourselves and try to be more hard-nosed.
"If we do that then we will end up winning more games than we lose."
Blackburn: Friedel, Emerton, Ooijer, Khizanishvili, Neill, Bentley, Savage, Tugay (Mokoena 45), Pedersen, McCarthy (Gallagher 85), Jeffers (Nonda 45).
Subs Not Used: Brown, Peter.
Booked: Savage, McCarthy.
Goals: Sinclair 18 og, Pedersen 44, McCarthy 66, Gallagher 89.
Man City: Weaver, Richards, Dunne, Distin, Jordan, Trabelsi (Beasley 35), Barton, Hamann (Ireland 78), Sinclair, Corradi, Dickov (Samaras 62).
Subs Not Used: Hart, Reyna.
Booked: Hamann, Richards, Corradi.
Goals: Barton 39, Ooijer 45 og.
Ref: M Atkinson (W Yorkshire).