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Speed and Income

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  • Mogens Fosgerau

Abstract

The relationship between speed and income is established in a microeconomic model focusing on the trade-off between travel time and the risk of receiving a penalty for exceeding the speed limit. This is used to determine when a rational driver will choose to exceed the speed limit. The relationship between speed and income is found again in the empirical analysis of a cross-sectional dataset comprising 60,000 observations of car trips. This is used to perform regressions of speed on income, distance travelled, and a number of controls. The results are clearly statistically significant and indicate an average income elasticity of speed of 0.02; it is smaller at short distances and about twice as large at the longest distance investigated of 200 km. © 2005 LSE and the University of Bath

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Bibliographic Info

Article provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.

Volume (Year): 39 (2005)
Issue (Month): 2 (May)
Pages: 225-240

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Handle: RePEc:tpe:jtecpo:v:39:y:2005:i:2:p:225-240

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Web page: http://www.bath.ac.uk/e-journals/jtep

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References

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  1. Rienstra, S.A. & Rietveld, P., 1996. "Speed behaviour of car drivers: a statistical analysis of acceptance of changes in speed policies in the Netherlands," Serie Research Memoranda 0007, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  2. Gander, James P., 1985. "A utility-theory analysis of automobile speed under uncertainty of enforcement," Transportation Research Part B: Methodological, Elsevier, vol. 19(3), pages 187-195, June.
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Cited by:
  1. McQuaid, Ronald W., 2009. "A model of the travel to work limits of parents," Research in Transportation Economics, Elsevier, vol. 25(1), pages 19-28.
  2. Muhammad Sabir & Jos van Ommeren & Mark Koetse & Piet Rietveld, 2008. "Welfare Effects of Adverse Weather through Speed Changes in Car Commuting Trips," Tinbergen Institute Discussion Papers 08-087/3, Tinbergen Institute.
  3. Elvik, Rune, 2006. "Are individual preferences always a legitimate basis for evaluating the costs and benefits of public policy?: The case of road traffic law enforcement," Transport Policy, Elsevier, vol. 13(5), pages 379-385, September.
  4. Muhammad Sabir & Jos van Ommeren & Mark Koetse & Piet Rietveld, 2008. "Welfare Effects of Adverse Weather through Speed Changes in Car Commuting Trips," Tinbergen Institute Discussion Papers 08-087/3, Tinbergen Institute.
  5. Muhammad Sabir & Jos Ommeren & Mark Koetse & Piet Rietveld, 2011. "Adverse Weather and Commuting Speed," Networks and Spatial Economics, Springer, vol. 11(4), pages 701-712, December.
  6. Bonilla, David, 2009. "Fuel demand on UK roads and dieselisation of fuel economy," Energy Policy, Elsevier, vol. 37(10), pages 3769-3778, October.
  7. Borger, Bruno De, 2011. "Optimal congestion taxes in a time allocation model," Transportation Research Part B: Methodological, Elsevier, vol. 45(1), pages 79-95, January.

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