Economics of Speeding Tickets

I once heard an economist describe a speeding ticket as a speeding tax. You speed to save time and in exchange you pay a fee. It's certainly not how the issue is usually described, but it is technically true. It rang even more true when I came across a company, TicketFree, that offered ticket insurance. You pay an annual fee in exchange for being reimbursed for a fixed amount on moving violations. Though this raises moral hazard concerns, the idea reveals what I initially mentioned. Speeding isn't a moral issue, it's an economic one. This was shown even more clearly when recently a Nevada gubernatorial candidate suggested allowing citizens to pay $25 a day to drive up to 90 mph. He predicts it would help raise $1 billion a year in new state revenue. As unusual as this is, I'm not sure it's much different than what is currently happening. You speed you pay. Instead, you pay you speed.