The role of attribute processing strategies in estimating the preferences of road freight stakeholders
AbstractChoice behaviour studies typically assume passive bounded rationality, suggesting that decision makers process all information given to them with equal attention. However, it is probable that decision makers invoke any number of attribute processing strategies (APSs) when weighing the characteristics of candidate alternatives against one another. Utilising data from a study of urban road freight stakeholders evaluating alternative packages of component trip times, fuel costs and variable user charges, this paper shows that accounting for APS heterogeneity associate with each alternative in each choice set results in differing marginal disutilities and willingness to pay for components of travel time, compared to a model which assumes passive bounded rationality.
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Bibliographic InfoArticle provided by Elsevier in its journal Transportation Research Part E: Logistics and Transportation Review.
Volume (Year): 44 (2008)
Issue (Month): 3 (May)
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/600244/description#description
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- Lorenzo Masiero & David A. Hensher, 2010.
"Analyzing loss aversion and diminishing sensitivity in a freight transport stated choice experiment,"
Quaderni della facoltÃ di Scienze economiche dell'UniversitÃ di Lugano
1004, USI Università della Svizzera italiana.
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- Andrew Collins & John Rose & Stephane Hess, 2012. "Interactive stated choice surveys: a study of air travel behaviour," Transportation, Springer, vol. 39(1), pages 55-79, January.
- David Hensher & David Layton, 2010. "Parameter transfer of common-metric attributes in choice analysis: implications for willingness to pay," Transportation, Springer, vol. 37(3), pages 473-490, May.
- Søren Olsen & Thomas Lundhede & Jette Jacobsen & Bo Thorsen, 2011. "Tough and Easy Choices: Testing the Influence of Utility Difference on Stated Certainty-in-Choice in Choice Experiments," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 49(4), pages 491-510, August.
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