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Speed and income

  • Mogens Fosgerau

    (Danish Transport Research Institute)

The relationship between speed and income is established in a micro- economic model focusing on the trade-off between travel time and the risk of receiving a penalty for exceeding the speed limit. This is used to determine when a rational driver will choose to exceed the speed limit. The relationship between speed and income is found again in the empirical analysis of a cross-sectional dataset comprising 60.000 observations of car trips. This is utilised to perform regressions of speed on income, distance travelled and a number of controls. The results are clearly significant and indicate an average income elasticity of speed of 0.03; it is smaller at short distances and about twice as large at the longest distance investigated of 200 km.

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File URL: http://128.118.178.162/eps/urb/papers/0405/0405002.pdf
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Paper provided by EconWPA in its series Urban/Regional with number 0405002.

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Length: 21 pages
Date of creation: 07 May 2004
Date of revision:
Handle: RePEc:wpa:wuwpur:0405002
Note: Type of Document - pdf; pages: 21. 21 pages pdf
Contact details of provider: Web page: http://128.118.178.162

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  1. Gander, James P., 1985. "A utility-theory analysis of automobile speed under uncertainty of enforcement," Transportation Research Part B: Methodological, Elsevier, vol. 19(3), pages 187-195, June.
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