Abstract
SUMMARYThis study investigates the effects of various factors on highway drivers' speeding behaviour and estimates the amount of money that a highway driver is willing to pay for speeding violations in Taiwan. The contingent valuation method is applied to measure drivers' preference and to derive the value function of the amount of money. Logit and probit models are estimated to analyse the significant variables influencing speeding behaviour and to calculate the willingness to pay for speeding violations. The research results show that increasing speeding fines is an effective way to reduce illegal driving behaviour on highways. Significant variables affecting highway drivers' speeding behaviour include gender, engine capacity, past offenders in the previous year, and the risk‐seeking characteristics of drivers. Finally, the logit and probit models show that the amounts of money that highway drivers are willing to pay for speeding violations are $US119 and $US116, respectively. Copyright © 2012 John Wiley & Sons, Ltd.
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