Bayesian posterior prediction and meta-analysis: an application to the value of travel time savings

Enrique Moral-Benito

MPRA Paper from University Library of Munich, Germany

Abstract: In the evaluation of transportation infrastructure projects, some non-tradable goods such as time are usually key determinants of the result. However, obtaining monetary values for these goods is not always easy. This paper introduces a novel approach based on the combination of bayesian posterior prediction and meta-analysis. This methodology will allow to obtain predictive distributions of the monetary values for this type of goods. Therefore, uncertainty is formally considered in the analysis. Moreover, the proposed method is easy to apply and inexpensive both in terms of time and money. Finally, an application to the value of travel time savings is also presented.

Keywords: Bayesian Prediction; Meta-Analysis; Uncertainty; Value of Travel Time Savings (search for similar items in EconPapers)
JEL-codes: D61 L91 (search for similar items in EconPapers)
Date: 2008-12-31
New Economics Papers: this item is included in nep-ecm and nep-for
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Related works:
Journal Article: Bayesian posterior prediction and meta-analysis: an application to the value of travel time savings (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:12861

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