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Marginal Utility of Income and value of time in urban transport

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Author Info
Christelle Viauroux () (University of Cincinnati)
Abstract

We relax the assumption of constancy of the marginal utility of income into a structural model of urban transportation with endogenous congestion. We examine the impact of unobserved heterogeneity in Marginal Utility (MU) of income on the determinants of travel by estimating the model using household survey data. We show that the value of time is no more statistically different across time slots and that the model is robust to all other results.

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File URL: http://www.accessecon.com/pubs/EB/2008/Volume4/EB-08D80014A.pdf
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Publisher Info
Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 4 (2008)
Issue (Month): 3 ()
Pages: 1-8
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:4:y:2008:i:3:p:1-8

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Related research
Keywords: Marginal Utility of Income;

Find related papers by JEL classification:
D8 - Microeconomics - - Information, Knowledge, and Uncertainty
R0 - Urban, Rural, and Regional Economics - - General

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