Journal
ECONOMETRICA
Volume 73, Issue 4, Pages 1367-1382Publisher
WILEY
DOI: 10.1111/j.1468-0262.2005.00619.x
Keywords
mixed logit; stated preference; congestion pricing; product differentiation; value of time
Ask authors/readers for more resources
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.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available