Fosgerau, Mogens (2005): Speed and income. Published in: Journal of Transport Economics and Policy , Vol. 39, No. 2 : pp. 225-240.
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The relationship between speed and income is established in a microeconomic 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 used to perform regressions of speed on income, distance travelled, and a number of controls. The results are clearly statistically significant and indicate an average income elasticity of speed of 0.02; it is smaller at short distances and about twice as large at the longest distance investigated of 200 km.
|Item Type:||MPRA Paper|
|Original Title:||Speed and income|
|Subjects:||R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R4 - Transportation Systems > R41 - Transportation: Demand, Supply, and Congestion; Safety and Accidents; Transportation Noise|
|Depositing User:||Mogens Fosgerau|
|Date Deposited:||07. Jan 2009 01:01|
|Last Modified:||12. Feb 2013 18:05|
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