The Cost of Speeding The penalty for speeding in Massachusetts used to be a modest fine. In 2006, the legislature changed the law so that drivers under 18 who are caught speeding now lose their licenses for 90 days—and to get them back they have to pay $500, attend 8 hours of training classes, and retake the state’s driving exam. Guess what? Deaths among drivers under 18 fell by 38% in just 3 years. In other words, more than 8,000 young lives were saved by appealing to the hedonic motive.
http://www.boston.com/news/local/massachusetts/articles/2010/04/18/steep_drop_in_teen_driver_fatalities/
©JOURNAL-COURIER/CLAYTON STALTER/THE IMAGE WORKS
©JOURNAL-COURIER/CLAYTON STALTER/THE IMAGE WORKS