Driving, Fast and Slow: An Experimental Investigation of Speed Choice and Information

Abstract

This study aimed to investigate the role of information and individual determinants on speed choice in a controlled laboratory setting in order to improve the general understanding of individual speeding behavior. A novel and interactive speed choice experiment was designed where participants repeatedly had to choose between fast or slow driving. Results showed that additional information had an effect on speeding choice if it contains quantitative instead of qualitative information. However, the provided quantitative information led to increased speeding behavior and a higher number of accidents—potentially because it reduces uncertainty about accident risk. This—at the first sight unexpected—finding may be partially explained by different effects of uncertainty and risk. Results further indicate that an increase in the underlying crash risk actually reduces accidents by decreasing the attractiveness of speeding. Across all treatments it was found that individual characteristics help explain differences in speeding behavior significantly.