Penalty Schedules and the Optimal Speed Limit
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.
Volume (Year): 16 (1990)
Issue (Month): 1 (Jan-Mar)
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- Jondrow, James & Bowes, Marianne & Levy, Robert, 1983. "The Optimal Speed Limit," Economic Inquiry, Western Economic Association International, vol. 21(3), pages 325-336, July.
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