A Choice Experiments Application in Transport Infrastructure: A case study on travel time savings, accidents and pollution reduction
AbstractThis paper presents the results of a choice experiment conducted to estimate the values derived from a highway construction project in Greece. To account for preference heterogeneity conditional logit with interactions and random parameter logit models are estimated. The results indicate that individuals have significant values for travel time savings, percentage decrease in traffic accidents, percentage decrease in traffic related emissions and landscape modifications. Models where the attributes are interacted with socioeconomic variables perform better and produce lower welfare estimates compared to models without interactions with important implications for cost benefit analysis.
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Bibliographic InfoPaper provided by Athens University of Economics and Business in its series DEOS Working Papers with number 1116.
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- Koundouri, Phoebe & Kountouris, Yannis & Stithou, Mavra, 2012. "A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction," MPRA Paper 38274, University Library of Munich, Germany.
- Phoebe Koundouri & Yannis Kountouris & Mavra Stithou, . "A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction," DEOS Working Papers 1227, Athens University of Economics and Business.
- C9 - Mathematical and Quantitative Methods - - Design of Experiments
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
- N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
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