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Penalty Schedules and the Optimal Speed Limit

Author

Listed:
  • 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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    4. 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.
    5. Jondrow, James & Bowes, Marianne & Levy, Robert, 1983. "The Optimal Speed Limit," Economic Inquiry, Western Economic Association International, vol. 21(3), pages 325-336, July.
    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. 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.
    8. 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.
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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 Ch vez & 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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