Consumer Demand for Fully Automated Driving Technology: Evidence from Japan

Kong Joo Shin and Shunsuke Managi

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: Automated driving technology is one of the most important applications of advanced artificial intelligence technology, which is being extensively incorporated into transportation worldwide. Policymakers expect the introduction of fully automated vehicles (FAV) to significantly reduce the number of accidents that are due to human error and road congestion. Using originally collected large-sample survey data from 2015, this paper evaluates current consumer demand in terms of purchase intention (PI) and willingness to pay (WTP) for FAV in Japan. On average, consumers expect FAV to be available for purchase in approximately 13 years, and 47% of respondents report positive PI. Average WTP was approximately 190,000 yen ($1,650) and 290,000 yen ($2,520) for respondents with positive PI. Using regression analysis, we also analyze the determinants of PI and WTP, such as the subjective merits and demerits of FAV as well as other household and city characteristics.

Pages: 35 pages
Date: 2017-03
New Economics Papers: this item is included in nep-pay and nep-tre
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:17032

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