A Choice Experiments Application in Transport Infrastructure: A case study on travel time savings, accidents and pollution reduction
Marva Stithou (),
Yiannis Kountouris () and
Phoebe Koundouri ()
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Marva Stithou: University of Stirling, UK
No 1116, DEOS Working Papers from Athens University of Economics and Business
This paper presents the results of a choice experiment conducted to estimate the values derived from a highway construction project in Greece. To account for preference heterogeneity conditional logit with interactions and random parameter logit models are estimated. The results indicate that individuals have significant values for travel time savings, percentage decrease in traffic accidents, percentage decrease in traffic related emissions and landscape modifications. Models where the attributes are interacted with socioeconomic variables perform better and produce lower welfare estimates compared to models without interactions with important implications for cost benefit analysis.
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Working Paper: A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction (2012)
Working Paper: A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction
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Persistent link: http://EconPapers.repec.org/RePEc:aue:wpaper:1116
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