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1993

Robert L Sexton

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Full-Text Articles in Political Economy

Speed Variance, Enforcement, And The Optimal Speed Limit, Philip E. Graves, Dwight Lee, Robert L. Sexton Dec 1992

Speed Variance, Enforcement, And The Optimal Speed Limit, Philip E. Graves, Dwight Lee, Robert L. Sexton

Robert L Sexton

A model of the optimal speed limit is developed which explicitly recognizes the roles 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.