Econometrica: Jul, 2005, Volume 73, Issue 4
Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability
https://doi.org/10.1111/j.1468-0262.2005.00619.x
p. 1367-1382
Kenneth A. Small, Clifford Winston, Jia Yan
We apply recent econometric advances to study the distribution of commuters' preferences for speedy and reliable highway travel. Our analysis applies mixed logit to combined revealed and stated preference data on commuter choices of whether to pay a toll for congestion‐free express travel. We find that motorists exhibit high values of travel time and reliability, and substantial heterogeneity in those values. We suggest that road pricing policies designed to cater to such varying preferences can improve efficiency and reduce the disparity of welfare impacts compared with recent pricing experiments.
Supplemental Material
Data and computer codes for "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability"
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Supplement to: "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability"
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Data and computer codes for "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability"
data
View zip
Supplement to: "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability"
extensions
View pdf