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Estimating the Offsetting Effects of Driver Behavior in Response to Safety Regulation: The Case of Formula One Racing

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  • Potter Joel M

    (North Georgia College & State University)

Abstract

Using a unique dataset, this paper empirically tests the Peltzman effect by investigating the behavior of Formula One racecar drivers. Estimates suggest that drivers become more reckless as their cars become safer, ceteris paribus. From 1963-1973, safety changes, on average, are estimated to leave the number of driver casualties unchanged. Furthermore, this is the first attempt to estimate specifically how drivers respond to changes in the conditional probability of fatality given an accident. Results provide evidence that the behavioral response of drivers is larger when the analysis is confined to changes in the conditional probability of a fatality given an accident.

Suggested Citation

  • Potter Joel M, 2011. "Estimating the Offsetting Effects of Driver Behavior in Response to Safety Regulation: The Case of Formula One Racing," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 7(3), pages 1-22, July.
  • Handle: RePEc:bpj:jqsprt:v:7:y:2011:i:3:n:1
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    References listed on IDEAS

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    1. Robert S. Chirinko & Edward P. Harper, 1993. "Buckle up or slow down? New estimates of offsetting behavior and their implications for automobile safety regulation," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 12(2), pages 270-296.
    2. J. Brian O'Roark & William C. Wood, 2004. "Safety at the Racetrack: Results of Restrictor Plates in Superspeedway Competition," Southern Economic Journal, Southern Economic Association, vol. 71(1), pages 118-129, July.
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    7. Loeb, Peter D, 1995. "The Effectiveness of Seat-Belt Legislation in Reducing Injury Rates in Texas," American Economic Review, American Economic Association, vol. 85(2), pages 81-84, May.
    8. Peterson, Steven & Hoffer, George & Millner, Edward, 1995. "Are Drivers of Air-Bag-Equipped Cars More Aggressive? A Test of the Offsetting Behavior Hypothesis," Journal of Law and Economics, University of Chicago Press, vol. 38(2), pages 251-264, October.
    9. Graves, Philip E. & Lee, Dwight R. & Sexton, Robert L., 1993. "Speed variance, enforcement, and the optimal speed limit," Economics Letters, Elsevier, vol. 42(2-3), pages 237-243.
    10. Crandall, Robert W & Graham, John D, 1984. "Automobile Safety Regulation and Offsetting Behavior: Some New Empirical Estimates," American Economic Review, American Economic Association, vol. 74(2), pages 328-331, May.
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    Cited by:

    1. Hoy, Michael & Polborn, Mattias K., 2015. "The value of technology improvements in games with externalities: A fresh look at offsetting behavior," Journal of Public Economics, Elsevier, vol. 131(C), pages 12-20.
    2. Wright, Mike, 2014. "OR analysis of sporting rules – A survey," European Journal of Operational Research, Elsevier, vol. 232(1), pages 1-8.

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