Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

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.


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Supplemental Material

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

data

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

extensions

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

data

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

extensions