Joint estimation of process and outcome in choice experiments and implications for willingness to pay.

Author(s)
Hensher, D.
Year
Abstract

This study proposes a joint process-outcome model in which the choices made are conditioned on the rules adopted by each respondent in assessing the attributes packaged in the definition of each alternative. A joint modelis proposed and two sets of panel-based mixed logit models are estimated - one set in which the attribute processing rules are ignored and one set in which the rules are explicitly accounted for. Using data from a commuter car trip study of unlabelled packages of times and cost attributes, willingness to pay distributions for travel time savings are identified under the various process rules. The main finding is that failing to account forthe process rules tends to result in statistically higher mean estimates of values of travel time savings. For the covering abstract see ITRD E145999

Request publication

3 + 14 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Publication

Library number
C 49471 (In: C 49291 [electronic version only]) /72 / ITRD E146183
Source

In: Proceedings of the European Transport Conference ETC, Leeuwarden, The Netherlands, 6-8 October 2008, Pp.

Our collection

This publication is one of our other publications, and part of our extensive collection of road safety literature, that also includes the SWOV publications.