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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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  • Koundouri, Phoebe
  • Kountouris, Yannis
  • Stithou, Mavra

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

  • 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.
    • Handle: RePEc:pra:mprapa:38274
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    Cited by:

    1. Jeremy Webb & Max Briggs & Clevo Wilson, 2018. "Breaking automotive modal lock-in: a choice modelling study of Jakarta commuters," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(1), pages 47-68, January.

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    More about this item

    Keywords

    Choice experiments; transport infrastructure; travel time savings; accidents; pollution reduction;
    All these keywords.

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments

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