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Penalty Schedules and the Optimal Speed Limit

Author

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  • 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.

Suggested Citation

  • Ricardo J. Rodriguez, 1990. "Penalty Schedules and the Optimal Speed Limit," Eastern Economic Journal, Eastern Economic Association, vol. 16(1), pages 59-64, Jan-Mar.
    • Handle: RePEc:eej:eeconj:v:16:y:1990:i:1:p:59-64
    as

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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume16/V16N1P59_64.pdf
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    References listed on IDEAS

    as
    1. Gary S. Becker, 1974. "Crime and Punishment: An Economic Approach," NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 1-54, National Bureau of Economic Research, Inc.
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    3. William T. Dickens, 1986. "Crime and Punishment Again: The Economic Approach with a Psychological Twist," NBER Working Papers 1884, National Bureau of Economic Research, Inc.
    4. de Meza, David, 1986. "The efficiency of liability law," International Review of Law and Economics, Elsevier, vol. 6(1), pages 107-113, June.
    5. 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 529-563, June.
    6. Lave, Charles A, 1985. "Speeding, Coordination, and the 55 MPH Limit," American Economic Review, American Economic Association, vol. 75(5), pages 1159-1164, December.
    7. 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 314-325, June.
    8. 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.
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    Cited by:

    1. White, Mark D., 2008. "Time, speeding behavior, and optimal penalties," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 384-399, February.
    2. Ferrara, Ida & Missios, Paul, 2000. "Effective Speed Enforcement and Photo Radar: Evidence from Australia," MPRA Paper 70750, University Library of Munich, Germany.
    3. Marcelo Caffera & Carlos Chávez & Analia Ardente, 2013. "Does the structure of the fine matter?," Documentos de Trabajo/Working Papers 1305, Facultad de Ciencias Empresariales y Economia. Universidad de Montevideo..

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