Time-saving bias
We underestimate time saved when moving from a relatively smaller speed to higher speed(eg. 30 kmph to 40 kmph). Also, we overestimate time saved when moving from a relatively faster speed to even faster speed(eg. 70-100 kmph).
Cause
People falsely believe that journey time decreases somewhat linearly as driving speed increases, irrespective of the initial speed, causing the time-saving bias.
Consequences
The time-saving bias is not limited to driving. The same faulty estimations emerge when people are asked to estimate savings in patients' waiting time when adding more physicians to a health care centre or when estimating an increase in the productivity of a manufacturing line by adding more workers.