Abstract

http://ssrn.com/abstract=1904038
 
 

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Speed Variance, Enforcement, and the Optimal Speed Limit


Philip E. Graves


University of Colorado at Boulder - Department of Economics

Dwight Lee


University of Georgia - C. Herman and Mary Virginia Terry College of Business - Department of Economics

Robert L. Sexton


Pepperdine University - Economics Department

1993

Economics Letters, Vol. 42, pp. 237-243, 1993

Abstract:     
A model of the optimal speed limit is developed which explicitly recognizes the role of average speed, speed variance, and the level of enforcement. An unusual result emerges, namely that a higher speed limit may be optimal when reducing the variance in highway speeds reduces accident externalities.

Number of Pages in PDF File: 7

Keywords: highway speeds, highway speed variance, public policy, optimal speed limits, statute enforcement

JEL Classification: D02, D04, D03, D11, K10, K14, K42, R41

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Date posted: August 3, 2011  

Suggested Citation

Graves, Philip E. and Lee, Dwight and Sexton, Robert L., Speed Variance, Enforcement, and the Optimal Speed Limit (1993). Economics Letters, Vol. 42, pp. 237-243, 1993. Available at SSRN: http://ssrn.com/abstract=1904038

Contact Information

Philip E. Graves (Contact Author)
University of Colorado at Boulder - Department of Economics ( email )
Campus Box 256
Boulder, CO 80309-0256
United States
Dwight Lee
University of Georgia - C. Herman and Mary Virginia Terry College of Business - Department of Economics ( email )
Athens, GA 30602-6254
United States
Robert L. Sexton
Pepperdine University - Economics Department ( email )
24255 Pacific Coast Highway
Malibu, CA 90263
United States
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