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 congestionā€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.

Log In To View Full Content

Supplemental Material

Data and computer codes for "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability"

Read More View ZIP


Supplement to: "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability"

Read More View PDF



Back