Journal
TRANSPORTATION RESEARCH PART C-EMERGING TECHNOLOGIES
Volume 60, Issue -, Pages 511-524Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.trc.2015.10.003
Keywords
Smart vehicle; Advanced vehicular technology; Consumer preference; Willingness to pay; Multiple discrete-continuous probit; Multinomial probit
Categories
Funding
- U.S. Department of Transportation through the Data-Supported Transportation Operations and Planning (D-STOP) Tier 1 University Transportation Center
- Humboldt Research Award from the Alexander von Humboldt Foundation, Germany
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The automotive industry is witnessing a revolution with the advent of advanced vehicular technologies, smart vehicle options, and fuel alternatives. However, there is very limited research on consumer preferences for such advanced vehicular technologies. The deployment and penetration of advanced vehicular technologies in the marketplace, and planning for possible market adoption scenarios, calls for the collection and analysis of consumer preference data related to these emerging technologies. This study aims to address this need, offering a detailed analysis of consumer preference for alternative fuel types and technology options using data collected in stated choice experiments conducted on a sample of consumers from six metropolitan cities in South Korea. The results indicate that there is considerable heterogeneity in consumer preferences for various smart technology options such as wireless internet, vehicle connectivity, and voice command features, but relatively less heterogeneity in the preference for smart vehicle applications such as real-time traveler information on parking and traffic conditions. (C) 2015 Elsevier Ltd. All rights reserved.
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