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A Choice Experiments Application in Transport Infrastructure: A case study on travel time savings, accidents and pollution reduction

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  • Marva Stithou

    ()
    (University of Stirling, UK)

  • Yiannis Kountouris

    ()

  • Phoebe Koundouri

    (Dept. of International and European Economic Studies, Athens University of Economics and Business)

Abstract

This 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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Paper provided by Athens University of Economics and Business in its series DEOS Working Papers with number 1116.

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Handle: RePEc:aue:wpaper:1116

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  12. Westerberg, Vanja Holmquist & Lifran, Robert & Olsen, Søren Bøye, 2010. "To restore or not? A valuation of social and ecological functions of the Marais des Baux wetland in Southern France," Ecological Economics, Elsevier, vol. 69(12), pages 2383-2393, October.
  13. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
  14. Nick Hanley & Sergio Colombo & Dugald Tinch & Andrew Black & Ashar Aftab, 2006. "Estimating the benefits of water quality improvements under the Water Framework Directive: are benefits transferable?," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 33(3), pages 391-413, September.
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