Motorist's Response to an Increase in Traffic Fines

Table 3

Effect of a raise in fines on the number of fines for speeding on the motorway, detected by an ASMS.

Variable	Coefficient	𝑡-Statistic
Constant	324.575**	30.039
Fine amount	−0.139^*,†	−1.812
Unemployment	−0.142**	−5.809
GDP	−1.032**	−10.131
Yearly trend	−0.155**	−28.903
Season^a
Summer	0.073**	10.592
Autumn	−0.212**	−31.464
Winter	−0.067**	−10.440
Truck, bus, or trailer	−3.628**	−166.403
Maximum speed^b
80 km/h	2.307**	146.976
90 km/h	1.044**	52.432
100 km/h	0.823**	56.882
+15 location dummies^c
+37 dummies for the number of kilometers with which the speed limit was exceeded^c
Number of observations	116,812
Adjusted 𝑅^2 1st stage	0.998
Adjusted generalized 𝑅^2 2nd stage^d	0.925

∗Significantly different from 0 at 90% level.
**Significantly different from 0 at 95% level.
^†Significantly different from −1 at 95% level.
^aSpring is the reference category.
^b120 km/u is the reference category.
^cThe results for all the dummy variables are available upon request.
^dSee Pesaran and Smith [23].