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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- Lave, Charles A, 1985. "Speeding, Coordination, and the 55 MPH Limit," American Economic Review, American Economic Association, vol. 75(5), pages 1159-64, December.
- 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 529-63, June.
- 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 314-25, June.
- Jondrow, James & Bowes, Marianne & Levy, Robert, 1983. "The Optimal Speed Limit," Economic Inquiry, Western Economic Association International, vol. 21(3), pages 325-36, July.
- 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.
- de Meza, David, 1986. "The efficiency of liability law," International Review of Law and Economics, Elsevier, vol. 6(1), pages 107-113, June.
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