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Penalty Schedules and the Optimal Speed Limit

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Author Info
Ricardo J. Rodriguez (University of Miami, Coral Gables)
Abstract

This paper incorporates the penalty schedule associated with the enforcement of a speed limit into the analysis of speed choice. If inadequately formulated, a penalty schedule may induce drivers to increase their speed relative to their unrestricted choice. It is always possible, however, to design a penalty schedule such that drivers will reduce their speed. It is also possible to induce total compliance with the speed limit.

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File URL: http://college.holycross.edu/eej/Volume16/V16N1P59_64.pdf
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Publisher Info
Article provided by Palgrave Macmillan Journals in its journal Eastern Economic Journal.

Volume (Year): 16 (1990)
Issue (Month): 1 (Jan-Mar)
Pages: 59-64
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Handle: RePEc:pal:easeco:v:16:y:1990:i:1:p:59-64

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Block, M K & Heineke, J M, 1975. "A Labor Theoretic Analysis of the Criminal Choice," American Economic Review, American Economic Association, vol. 65(3), pages 314-25, June. [Downloadable!] (restricted)
  2. Schoemaker, Paul J H, 1982. "The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations," Journal of Economic Literature, American Economic Association, vol. 20(2), pages 529-63, June. [Downloadable!] (restricted)
  3. Dickens, William T., 1986. "Crime and punishment again: The economic approach with a psychological twist," Journal of Public Economics, Elsevier, vol. 30(1), pages 97-107, June. [Downloadable!] (restricted)
  4. Gary S. Becker, 1968. "Crime and Punishment: An Economic Approach," Journal of Political Economy, University of Chicago Press, vol. 76, pages 169. [Downloadable!] (restricted)
  5. Lave, Charles A, 1985. "Speeding, Coordination, and the 55 MPH Limit," American Economic Review, American Economic Association, vol. 75(5), pages 1159-64, December. [Downloadable!] (restricted)
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