Long-Run versus Short-Run Perspectives on Consumer scheduling: Evidence from a Revealed-Preference Experiment among Peak-Hour Road Commuters

Research output: Contribution to JournalArticleAcademicpeer-review

Abstract

Earlier studies on scheduling behavior have mostly ignored that consumers have more flexibility to adjust their schedule in the long run than in the short run. We introduce the distinction between long-run choices of travel routines and short-run choices of departure times, using data from a real-life peak avoidance experiment. We find that participants value travel time higher in the long-run context, supposedly because changes in travel time can be exploited better through the adjustment of routines. Schedule delays are valued higher in the short run, reflecting that scheduling restrictions are typically more binding in the short run.
Original languageEnglish
Pages (from-to)303-323
JournalInternational Economic Review
Volume56
Issue number1
DOIs
Publication statusPublished - 2015

Fingerprint

Experiment
Short-run
Revealed preference
Roads
Travel time
Schedule
Schedule delay
Avoidance

Cite this

@article{4817ad6c3eaa466c996e3c4f4ef7f06c,
title = "Long-Run versus Short-Run Perspectives on Consumer scheduling: Evidence from a Revealed-Preference Experiment among Peak-Hour Road Commuters",
abstract = "Earlier studies on scheduling behavior have mostly ignored that consumers have more flexibility to adjust their schedule in the long run than in the short run. We introduce the distinction between long-run choices of travel routines and short-run choices of departure times, using data from a real-life peak avoidance experiment. We find that participants value travel time higher in the long-run context, supposedly because changes in travel time can be exploited better through the adjustment of routines. Schedule delays are valued higher in the short run, reflecting that scheduling restrictions are typically more binding in the short run.",
author = "S. Peer and E.T. Verhoef and J.S.A. Knockaert and P.R. Koster and Y. Tseng",
year = "2015",
doi = "10.1111/iere.12103",
language = "English",
volume = "56",
pages = "303--323",
journal = "International Economic Review",
issn = "0020-6598",
publisher = "Wiley-Blackwell",
number = "1",

}

TY - JOUR

T1 - Long-Run versus Short-Run Perspectives on Consumer scheduling: Evidence from a Revealed-Preference Experiment among Peak-Hour Road Commuters

AU - Peer, S.

AU - Verhoef, E.T.

AU - Knockaert, J.S.A.

AU - Koster, P.R.

AU - Tseng, Y.

PY - 2015

Y1 - 2015

N2 - Earlier studies on scheduling behavior have mostly ignored that consumers have more flexibility to adjust their schedule in the long run than in the short run. We introduce the distinction between long-run choices of travel routines and short-run choices of departure times, using data from a real-life peak avoidance experiment. We find that participants value travel time higher in the long-run context, supposedly because changes in travel time can be exploited better through the adjustment of routines. Schedule delays are valued higher in the short run, reflecting that scheduling restrictions are typically more binding in the short run.

AB - Earlier studies on scheduling behavior have mostly ignored that consumers have more flexibility to adjust their schedule in the long run than in the short run. We introduce the distinction between long-run choices of travel routines and short-run choices of departure times, using data from a real-life peak avoidance experiment. We find that participants value travel time higher in the long-run context, supposedly because changes in travel time can be exploited better through the adjustment of routines. Schedule delays are valued higher in the short run, reflecting that scheduling restrictions are typically more binding in the short run.

U2 - 10.1111/iere.12103

DO - 10.1111/iere.12103

M3 - Article

VL - 56

SP - 303

EP - 323

JO - International Economic Review

JF - International Economic Review

SN - 0020-6598

IS - 1

ER -