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Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability Author info | Abstract | Publisher info | Download info | Related research | Statistics Kenneth A. Small
Clifford Winston
Jia Yan
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We apply recent econometric advances to study the distribution of commuters' preferences for speedy and reliable highway travel. Our analysis applies mixed logit to combined revealed and stated preference data on commuter choices of whether to pay a toll for congestion-free express travel. We find that motorists exhibit high values of travel time and reliability, and substantial heterogeneity in those values. We suggest that road pricing policies designed to cater to such varying preferences can improve efficiency and reduce the disparity of welfare impacts compared with recent pricing experiments. Copyright The Econometric Society 2005.
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Article provided by Econometric Society in its journal Econometrica .
Volume (Year): 73 (2005)
Issue (Month): 4 (07)
Pages: 1367-1382
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Handle: RePEc:ecm:emetrp:v:73:y:2005:i:4:p:1367-1382Contact details of provider: Phone: 1 212 998 3820 Fax: 1 212 995 4487 Email: Web page: http://www.econometricsociety.org/ More information through EDIRC
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