OPTIMAL MOTORWAY SPEED AND SOME VALUATIONS OF TIME AND LIFE

In this paper the relationships between speed, accidents and petrol consumption are analysed in an attempt to reveal some of the trade-offs made by individuals and governments in their choice of speed and speed limits. In Section I a model is presented from which a general formula for optimal average speed is derived. In Section II the model is applied to calculate the optimal speed on British motorways, given the technical relationships between speed and accidents, speed and fuel consumption and given values of life and time. In Section III the model is used to calculate the shadow prices for life and for time, implied by a particular chosen average speed. /TRRL/

  • Corporate Authors:

    Manchester University, England

    School of Economics and Social Studies
    Manchester M60 1QD,   England 
  • Authors:
    • GHOSH, D
    • Lees, D
    • Seal, W
  • Publication Date: 1975-6

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00128292
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Report/Paper Numbers: No. 2
  • Files: ITRD, TRIS
  • Created Date: Apr 7 1976 12:00AM