Study Finds that Drivers will Slow Down with Cash Incentive

A recent experiment done by the National Highway Traffic Safety Administration (NHTSA) suggests that drivers will slow down if given a monetary incentive to do so.

The NHTSA studied the driving habits of 50 drivers over the course of one week by using cars outfitted with GPS trackers to monitor their speed. At the end of the week, drivers who had remained within the posteredlight 150x150 Study Finds that Drivers will Slow Down with Cash Incentived speed limit received 25 dollars. 3 cents was deducted from that total every time a driver went 5 to 8 mph over the speed limit, and 6 cents was deducted every time a driver went 9 mph or more above the speed limit.

According to test organizers, major speeding violations were nearly eliminated. The results of this study may be used in the near future by auto insurers. Some insurance companies are already trying to use technology to track their customers’ driving habits and charge them accordingly. In addition to speed, insurers hope to soon be able to monitor other driving habits such as hard acceleration and short stops.

To read the full article, visit  http://moneyland.time.com/2012/06/27/want-to-stop-drivers-from-speeding-pay-them/.

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About Lindsey Max

I am an intern for the Council of Better Business Bureaus based out of Arlington, VA. Originally from Potomac, MD, I am currently studying anthropology and religion at Emory University. In my spare time I enjoy taking pictures and solving puzzles.