TY - JOUR
T1 - Commuters’ preferences for fast and reliable travel: A semi-parametric estimation approach
AU - Koster, P.R.
AU - Koster, H.R.A.
PY - 2015
Y1 - 2015
N2 - 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.
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.
UR - https://www.scopus.com/pages/publications/84955676121
UR - https://www.scopus.com/inward/citedby.url?scp=84955676121&partnerID=8YFLogxK
U2 - 10.1016/j.trb.2015.05.011
DO - 10.1016/j.trb.2015.05.011
M3 - Article
SN - 0191-2615
VL - 81
SP - 289
EP - 301
JO - Transportation Research. Part B, Methodological
JF - Transportation Research. Part B, Methodological
IS - 1
ER -
