 Estimation of option and non-use values for intercity passenger rail servicesJustin S. Chang Journal of Transport Geography, 2010, vol. 18, issue 2, 259-265 Abstract: This paper considers option and non-use values of intercity passenger rail services in Korea. The total economic value of a given transport service can be classified into use, option and non-use values, but other grouping rules can be applied, respectively. The use value is the consumer’s surplus from the actual ride of a specific mode. The option value, on the other hand, can be defined as a traveller’s willingness to pay for reserving a travel mode, which is not his or her main choice, as a standby alternative. Finally, the non-use value represents benefits that are not attributable to the actual use or option use, but to the vicarious, altruistic, functional and existing worth of a transport service. A random stated preference survey based on a double-bounded dichotomous choice is conducted. A survival model is applied to the data collected. Calculations are based on trip makers’ willingness to pay for option and non-use values, using the parameters of the estimated survival model. Some concluding remarks are also presented. Keywords: Use values; Option values; Non-use values; Stated preference; Double-bounded dichotomous choice survey; Survival analysis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jotrge:v:18:y:2010:i:2:p:259-265 DOI: 10.1016/j.jtrangeo.2009.06.009 Access Statistics for this article Journal of Transport Geography is currently edited by Frank Witlox More articles in Journal of Transport Geography from Elsevier |
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