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No traffic lights – The daily blog of behavioral and cognitive economics

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No traffic lights – The daily blog of behavioral and cognitive economics

Where Traffic Lights Are Unnecessary

In Nantucket, there are no traffic lights. When the rules are erased, Adam Smith is surprisingly relevant. Nantucket. Having recently driven in Manhattan (NYC) and now on Nantucket (an island located 30 miles from the coast of Massachusetts), I’ve been pondering the difference a traffic light can make. In NYC, the traffic lights are constant signals from government. Shaping my strategy, the traffic lights determine my speed as I cruise up 10th Avenue after leaving the Lincoln Tunnel. My goal is a green light at every intersection and no pedestrians to change my pace. ….[READ]

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