Commuters’ preferences for fast and reliable travel: A semi-parametric estimation approach

P.R. Koster; H.R.A. Koster

doi:10.1016/j.trb.2015.05.011

Commuters’ preferences for fast and reliable travel: A semi-parametric estimation approach

P.R. Koster, H.R.A. Koster

Spatial Economics

Research output: Contribution to Journal › Article › Academic › peer-review

Abstract

We employ a semi-parametric estimation approach to analyse observed and unobserved heterogeneity in the value of savings in travel time and schedule delay. Our econometric approach allows for the estimation of unobserved and observed heterogeneity in preferences in a flexible way, meaning that we do not put any structure on how individual characteristics (such as income and age) relate to the value of savings in travel time and schedule delay. Using data from a stated choice experiment, we illustrate the estimation approach and find that there is substantial heterogeneity in the value of savings in travel time and schedule delay. For our data, we find that unobserved heterogeneity is more important than heterogeneity related to individual characteristics.

Original language	English
Pages (from-to)	289-301
Journal	Transportation Research. Part B: Methodological
Volume	81
Issue number	1
DOIs	https://doi.org/10.1016/j.trb.2015.05.011
Publication status	Published - 2015

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abstract = "We employ a semi-parametric estimation approach to analyse observed and unobserved heterogeneity in the value of savings in travel time and schedule delay. Our econometric approach allows for the estimation of unobserved and observed heterogeneity in preferences in a flexible way, meaning that we do not put any structure on how individual characteristics (such as income and age) relate to the value of savings in travel time and schedule delay. Using data from a stated choice experiment, we illustrate the estimation approach and find that there is substantial heterogeneity in the value of savings in travel time and schedule delay. For our data, we find that unobserved heterogeneity is more important than heterogeneity related to individual characteristics.",

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AB - We employ a semi-parametric estimation approach to analyse observed and unobserved heterogeneity in the value of savings in travel time and schedule delay. Our econometric approach allows for the estimation of unobserved and observed heterogeneity in preferences in a flexible way, meaning that we do not put any structure on how individual characteristics (such as income and age) relate to the value of savings in travel time and schedule delay. Using data from a stated choice experiment, we illustrate the estimation approach and find that there is substantial heterogeneity in the value of savings in travel time and schedule delay. For our data, we find that unobserved heterogeneity is more important than heterogeneity related to individual characteristics.

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JO - Transportation Research. Part B: Methodological

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ER -

Commuters’ preferences for fast and reliable travel: A semi-parametric estimation approach

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