Commuters’ preferences for fast and reliable travel: A semi-parametric estimation approach

Paul Koster and Hans Koster

Transportation Research Part B: Methodological, 2015, vol. 81, issue P1, 289-301

Abstract: We employ a semi-parametric estimation approach to analyse observed and unobserved heterogeneity in the value of savings in travel time and schedule delay. Our econometric approach allows for the estimation of unobserved and observed heterogeneity in preferences in a flexible way, meaning that we do not put any structure on how individual characteristics (such as income and age) relate to the value of savings in travel time and schedule delay. Using data from a stated choice experiment, we illustrate the estimation approach and find that there is substantial heterogeneity in the value of savings in travel time and schedule delay. For our data, we find that unobserved heterogeneity is more important than heterogeneity related to individual characteristics.

Keywords: Local maximum likelihood; Latent class; Semi-parametric logit; Normalised entropy criterion; Value of time; Value of reliability (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0191261515001137
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:transb:v:81:y:2015:i:p1:p:289-301

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

DOI: 10.1016/j.trb.2015.05.011

Access Statistics for this article

Transportation Research Part B: Methodological is currently edited by Fred Mannering

More articles in Transportation Research Part B: Methodological from Elsevier
Bibliographic data for series maintained by Catherine Liu ().