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A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction

Author

Listed:
  • Phoebe Koundouri
  • Yannis Kountouris
  • Mavra Stithou

Abstract

This paper presents the results of a Choice Experiment (CE) 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.

Suggested Citation

  • Phoebe Koundouri & Yannis Kountouris & Mavra Stithou, "undated". "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.
  • Handle: RePEc:aue:wpaper:1227
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    File URL: http://wpa.deos.aueb.gr/docs/CHOICE_EXPERIMENT.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Choice experiments; transport infrastructure; travel time savings; accidents; pollution reduction;

    JEL classification:

    • 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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