Speeding
A common reason drivers speed is the misperception it will substantially reduce the amount of time it takes to arrive at their destination. But this isn’t the case. For example, a driver who needs to get to a destination 40 km away and the speed limit is 70 km/h, then the journey will take 34 minutes. If the driver speeds and drives 80 km/h, then they will get to their destination in 30 minutes. But by saving four minutes of their time, drivers speeding at 80 km/h increase their crash risk by at least 60%. Is that worth it?
Is it time to change the approach to speed education by using game theory?
Liam Dann
Hear Liam Dann speak about his book BBQ Economics following dinner at Pupuke Golf Course.
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