Archive for November 13th, 2008


I knew the car makers were in trouble, but roads are laying people off?

Posted on Thursday, November 13th, 2008 at 6:05 pm by: Tom Vanderbilt
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Risky Business: Speeding and Trading

It’s hardly news in the traffic psychology world that people who routinely speed fall under the category of what are called “sensation-seekers.” But it’s always interesting to see just who those people are, and how this behavior correlates with other areas of their life.

A study by Mark Grinblatt, a professor of finance at the University of California, Los Angeles, and Matti Keloharju, a finance professor at the Helsinki School of Economics, titled “Sensation Seeking, Overconfidence and Trading Activity” (available here), gets at that question in an interesting way.

They had access to an interesting data set: A record of investing behavior among Finnish households that had, scattered amongst its sub-categories, the number of speeding tickets those households received. And they found an interesting relationship: “Each additional speeding ticket tends to increase turnover by 11%.” In other words, the people who sped the most, traded the most.

The economists were really looking to find evidence of whether behavioral attributes could explain trading volume, but the finding is just as relevant for driving. Whether it was down to sensation-seeking or, perhaps, overconfidence, the riskiest investors took the most risks on the road. And given that this was Finland, where speeding tickets for violations over 15 kph are related to one’s income, the risks one took could bear a high financial (and personal) cost. Interestingly, those who traded most didn’t see better performance than those who traded less (not to mention all the money they probably lost to speeding tickets). And it will surprise no one that “sports cars,” as a variable, were more linked to the most active traders, though not as much as speeding tickets.

Posted on Thursday, November 13th, 2008 at 4:43 pm by: Tom Vanderbilt
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Amherst Talk

If you’re in the area, I’ll be talking tomorrow at the University of Massachusetts-Amherst tomorrow, Friday, at 11 a.m. in the Isenberg School of Management. Details here.

Posted on Thursday, November 13th, 2008 at 9:43 am by: Tom Vanderbilt
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Traffic Tom Vanderbilt

How We Drive is the companion blog to Tom Vanderbilt’s New York Times bestselling book, Traffic: Why We Drive the Way We Do (and What It Says About Us), published by Alfred A. Knopf in the U.S. and Canada, Penguin in the U.K, and in languages other than English by a number of other fine publishers worldwide.

Please send tips, news, research papers, links, photos (bad road signs, outrageous bumper stickers, spectacularly awful acts of driving or parking or anything traffic-related), or ideas for my Transport column to me at:

For publicity inquiries, please contact Kate Runde at Vintage:

For editorial inquiries, please contact Zoe Pagnamenta at The Zoe Pagnamenta Agency:

For speaking engagement inquiries, please contact
Kim Thornton at the Random House Speakers Bureau:

Order Traffic from:

Amazon | B&N | Borders
Random House | Powell’s

U.S. Paperback UK Paperback
Traffic UK
Drive-on-the-left types can order the book from

For UK publicity enquiries please contact Rosie Glaisher at Penguin.

Upcoming Talks

April 9, 2008.
California Office of Traffic Safety Summit
San Francisco, CA.

May 19, 2009
University of Minnesota Center for Transportation Studies
Bloomington, MN

June 23, 2009
Driving Assessment 2009
Big Sky, Montana

June 26, 2009
PRI World Congress
Rotterdam, The Netherlands

June 27, 2009
Day of Architecture
Utrecht, The Netherlands

July 13, 2009
Association of Transportation Safety Information Professionals (ATSIP)
Phoenix, AZ.

August 12-14
Texas Department of Transportation “Save a Life Summit”
San Antonio, Texas

September 2, 2009
Governors Highway Safety Association Annual Meeting
Savannah, Georgia

September 11, 2009
Oregon Transportation Summit
Portland, Oregon

October 8
Honda R&D Americas
Raymond, Ohio

October 10-11
INFORMS Roundtable
San Diego, CA

October 21, 2009
California State University-San Bernardino, Leonard Transportation Center
San Bernardino, CA

November 5
Southern New England Planning Association Planning Conference
Uncasville, Connecticut

January 6
Texas Transportation Forum
Austin, TX

January 19
Yale University
(with Donald Shoup; details to come)

Monday, February 22
Yale University School of Architecture
Eero Saarinen Lecture

Friday, March 19
University of Delaware
Delaware Center for Transportation

April 5-7
University of Utah
Salt Lake City
McMurrin Lectureship

April 19
International Bridge, Tunnel and Turnpike Association (Organization Management Workshop)
Austin, Texas

Monday, April 26
Edmonton Traffic Safety Conference
Edmonton, Canada

Monday, June 7
Canadian Association of Road Safety Professionals
Niagara Falls, Ontario

Wednesday, July 6
Fondo de Prevención Vial
Bogotá, Colombia

Tuesday, August 31
Royal Automobile Club
Perth, Australia

Wednesday, September 1
Australasian Road Safety Conference
Canberra, Australia

Wednesday, September 22

Wisconsin Department of Transportation’s
Traffic Incident Management Enhancement Program
Statewide Conference
Wisconsin Dells, WI

Wednesday, October 20
Rutgers University
Center for Advanced Infrastructure and Transportation
Piscataway, NJ

Tuesday, March 8, 2011
Ontario Injury Prevention Resource Centre
Injury Prevention Forum

Monday, May 2
Idaho Public Driver Education Conference
Boise, Idaho

Tuesday, June 2, 2011
California Association of Cities
Costa Mesa, California

Sunday, August 21, 2011
American Association of Motor Vehicle Administrators
Milwaukee, Wisconsin

Wednesday, October 26, 2011
Attitudes: Iniciativa Social de Audi
Madrid, Spain

April 16, 2012
Institute for Sensible Transport Seminar
Gardens Theatre, QUT
Brisbane, Australia

April 17, 2012
Institute for Sensible Transport Seminar
Centennial Plaza, Sydney
Sydney, Australia

April 19, 2012
Institute for Sensible Transport Seminar
Melbourne Town Hall
Melbourne, Australia

January 30, 2013
University of Minnesota City Engineers Association Meeting
Minneapolis, MN

January 31, 2013
Metropolis and Mobile Life
School of Architecture, University of Toronto

February 22, 2013
ISL Engineering
Edmonton, Canada

March 1, 2013
Australian Road Summit
Melbourne, Australia

May 8, 2013
New York State Association of
Transportation Engineers
Rochester, NY

August 18, 2013 “Ingenuity” Conference
San Francisco, CA

September 26, 2013
TransComm 2013
(Meeting of American Association
of State Highway and Transportation
Officials’ Subcommittee on Transportation
Grand Rapids MI



November 2008

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