Koundouri, Phoebe and Kountouris, Yannis and Stithou, Mavra (2012): A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction. Published in: Research Topics in Agricultural and Applied Economics, Volume 3 (2012)
Download (125kB) | Preview
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.
|Item Type:||MPRA Paper|
|Original Title:||A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction|
|English Title:||A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction|
|Keywords:||Choice experiments, transport infrastructure,travel time savings, accidents, pollution reduction|
|Subjects:||C - Mathematical and Quantitative Methods > C9 - Design of Experiments
N - Economic History > N7 - Transport, Trade, Energy, Technology, and Other Services
C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C93 - Field Experiments
|Depositing User:||Phoebe Koundouri|
|Date Deposited:||01 Oct 2012 13:48|
|Last Modified:||13 Mar 2017 15:54|
Amador, J.A., Gonzalez, R.M., & De Dios Ortuzar, J. (2005). Preference heterogeneity and willingness to pay for travel time savings. Transportation, 32, 627-647.
Bateman, I.J., Carson, R.T., Day, B., Hanemann, W.M., Hanley, N., Hett, T., Jones-Lee, M., Loomes, G., Mourato, S., Ozdemiroglu, E., Pearce, D.W., Sugden, R. & Swanson, S. (2003). Guidelines for the Use of Stated Preference Techniques for the Valuation of Preferences for Non-market Goods. Cheltenham, UK: Edward Elgar.
Birol, E., Karousakis, K., & Koundouri, P. (2006). Using a choice experiment to account for preference heterogeneity in wetland attributes: The case of Cheimaditida wetland in Greece. Ecological Economics, 60 (1), 145-156.
Coast, J. Flynn, T. N., Natarajan, L., Sproston, K., Lewis, J., Louviere, J.J., Peters, T. J. (2008). Valuing the ICECAP capability index for older people. Social Science and Medicine, 67, 874–882.
Galilea, P., & Ortuzar, J.D. (2005). Valuing noise level reductions in a residential location context. Transportation Research Part D Transport and Environment, 10, 305–322.
Garrod, G., Scarpa, R., & Willis, K., G. (2002). Estimating the Benefits of Traffic Calming on Through Routes: A Choice Experiment Approach. Journal of Transport Economics and Policy, 36, 211-231.
Greene, W.H. (2002). NLOGIT Version 4.0: user’s guide. New York, USA: Econometric Software, Inc.
Greene, W.H. (2000). Econometric Analysis (3rd edition). London, UK: Prentice Hall International.
Hanley, N., Colombo, S., Tinch, D., Black, A., & Aftab, A. (2006). Estimating the benefits of water quality improvements under the Water Framework Directive: are benefits transferable? European Review of Agricultural Economics, 33, 391-423.
Hanley, N., Wright, R.E., & Koop, G. (2002). Modelling recreation demand using choice experiments: rock climbing in Scotland. Environmental and Resource Economics, 22, 449-466.
Hausman, J., & McFadden, D. (1984). Specification Tests for the Multinomial Logit Model. Econometrica, 52, 1219-1240.
Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46, 1251-1271.
Hensher, D. (2001). The valuation of commuter travel time savings for car drivers: evaluating alternative model specifications. Transportation, 28, 101-118.
Hjelmgren J, Anell A. (2007). Population preferences and choice of primary care models: a discrete choice experiment in Sweden. Health Policy, 83(2–3), 314–322.
Hoyos, D., Mariel, P., & Fernández-Macho, J. (2009). The influence of cultural identity on the WTP to protect natural resources: Some empirical evidence. Ecological Economics, 68 (8-9), 2372–2381.
Iraguen, P., & De Dios Ortuzar, J. (2004). Willingness-to-pay for reducing fatal accident risk in urban areas: an Internet-based Web page stated preference survey. Accident Analysis and Prevention, 36 (4), 513-524.
Lancaster, K. (1966). A new approach to consumer theory. Journal of Political Economics, 74, 217–231.
Louviere, J.J., Hensher, D. Swait, J., & Adamowicz, W. (2000). Stated Choice Methods: Analysis and Applications. Cambridge: Cambridge University Press.
McFadden, D. (1974). Conditional logit analysis of qualitative choice behavior. In: P. Zarembka (Ed), Frontiers in Econometrics (105-142). New York: Academic Press.
Revelt, D. & Train, K.E. (1998). Mixed logit with repeated choices: households’ choices of appliance efficiency level. The Review of Economics and Statistics, 80, 647-657.
Train, K.E. (1998). Recreation demand models with taste differences over people. Land Economics, 74, 230–239.
Westerberg, V.H., Lifran, R., & Olsen, S.B. (2010). To restore or not? A valuation of social and ecological functions of the Marais des Baux wetland in Southern France. Ecological Economics, 69 (12), 2383–2393.