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A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction

Phoebe Koundouri (), Yannis Kountouris and Mavra Stithou

No 1227, DEOS Working Papers from Athens University of Economics and Business

Abstract: This paper presents the results of a Choice Experiment (CE) 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.

Keywords: Choice experiments; transport infrastructure; travel time savings; accidents; pollution reduction (search for similar items in EconPapers)
JEL-codes: C9 C93 N7 (search for similar items in EconPapers)
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Published in Research Topics in Agricultural and Applied Economics

Downloads: (external link)
http://wpa.deos.aueb.gr/docs/CHOICE_EXPERIMENT.pdf First version (application/pdf)

Related works:
Working Paper: A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction (2012) Downloads
Working Paper: A Choice Experiments Application in Transport Infrastructure: A case study on travel time savings, accidents and pollution reduction Downloads
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