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Long-Run vs. Short-Run Perspectives on Consumer Scheduling: Evidence from a Revealed-Preference Experiment among Peak-Hour Road Commuters

Stefanie Peer (), Erik Verhoef (), Jasper Knockaert, Paul Koster () and Yin-Yen Tseng
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Jasper Knockaert: VU University Amsterdam
Yin-Yen Tseng: VU University Amsterdam

No 11-181/3, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: This discussion paper led to a publication in the 'International Economic Review'

. Earlier studies on scheduling behavior have mostly ignored that consumers have more flexibility to adjust their schedule in the long run than in the short run. We introduce the distinction between long-run choices of travel routines and short-run choices of departure times, using data from a real-life peak avoidance experiment. We find that participants value travel time higher in the long-run context, supposedly because changes in travel time can be exploited better through the adjustment of routines. Schedule delays are valued higher in the short run, reflecting that scheduling restrictions are typically more binding in the short run.

Keywords: long-run vs. short-run; scheduling decisions; valuation of travel time; valuation of schedule delays; revealed preference data; car travel; peak avoidance (search for similar items in EconPapers)
JEL-codes: C25 D03 D80 R48 (search for similar items in EconPapers)
Date: 2011-12-22, Revised 2014-08-25
New Economics Papers: this item is included in nep-tre and nep-ure
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