Estimation of the Economic Value of Student Urban Travel Time

Pablo Coto-Millán, Vicente Inglada, Miguel A. Pesquera, Rubén Sainz and Nuria Sánchez
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Pablo Coto-Millán: University of Cantabria
Vicente Inglada: University Carlos III of Madrid
Miguel A. Pesquera: University of Cantabria
Rubén Sainz: University of Cantabria
Nuria Sánchez: University of Cantabria

Chapter 2 in Essays on Transport Economics, 2007, pp 33-50 from Springer

Abstract: 2.4 Summary and Conclusions The values of saving in the time spent in journeys to study locations range from 3.04 €/hour for students with low preference for leisure (α=0), to 1.35 €/hour for students with very high preference for leisure. The estimated coefficients of supply variables are affected by negative signs, results which are intuitively appropriate and show us that an increase in variable private vehicle times and costs difference with respect to bus will decrease the probability to travel by private vehicle. On the other hand, the socio-economic variables reveal that younger men have more probability to travel by private car than women and older people. The annex shows that, statistics improve if we eliminate socio-economic, age and sex variables from our model.

Keywords: Travel Time; Utility Function; Probit Model; Time Saving; Discrete Choice Model (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-7908-1765-2_3

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DOI: 10.1007/978-3-7908-1765-2_3

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