TheOtherDave comments on The Bedrock of Fairness - Less Wrong
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We do it that way because the delay the car on the left will experience if the car on the right goes first is shorter than the delay the car on the right would experience if the car on the left went first.
This rule is reversed in left-hand-of-the-road driving regions, because of the reversal of the asymmetry.
It would surprise (and delight) me if minimizing delay were the reason we did it this way, though it's certainly a consequence. Do you have sources?
The NJ driver's manual mentioned it back in 1996. May still do so.