Cost-benefit analysis of the 55-mph speed limit

Journal Article · Sun Jan 01 00:00:00 EST 1984 · South. Econ. J.; (United States)

DOI:https://doi.org/10.2307/1057981· OSTI ID:6373600

Forester, T H; McNown, R F; Singell, L D

This article presents the results of an empirical study which estimates the number of reduced fatalities as a result of the imposed 55-mph speed limit. Time series data for the US from 1952 to 1979 is employed in a regression model capturing the relation between fatalities, average speed, variability of speed, and the speed limit. Also discussed are the alternative approaches to valuing human life and the value of time. Provided is a series of benefit-cost ratios based on alternative measures of the benefits and costs from life saving. The paper concludes that the 55-mph speed limit is not cost efficient unless additional time on the highway is valued significantly below levels estimated in the best reasearch on the value of time. 12 references, 1 table.

• Research Organization: Univ. of Colorado, Boulder
• OSTI ID: 6373600
• Journal Information: South. Econ. J.; (United States), Vol. 50:3
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
SPEED LIMIT
COST BENEFIT ANALYSIS
DEATH
REGRESSION ANALYSIS
STATISTICAL DATA
TIME-SERIES ANALYSIS
DATA
INFORMATION
MATHEMATICS
NUMERICAL DATA
STATISTICS
291000* - Energy Planning & Policy- Conservation
290200 - Energy Planning & Policy- Economics & Sociology