Working Paper : 1227


Authors Koundouri, P., Kountouris, Y. and Stithou, M.
Title A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction
Abstract This paper presents the results of a Choice Experiment (CE) conducted to estimate the values derived from a highway construction project in Greece. To account for preference heterogeneity conditional logit with interactions and random parameter logit models are estimated. The results indicate that individuals have significant values for travel time savings, percentage decrease in traffic accidents, percentage decrease in traffic related emissions and landscape modifications. Models where the attributes are interacted with socioeconomic variables perform better and produce lower welfare estimates compared to models without interactions with important implications for cost benefit analysis.
Publication Status Published in Research Topics in Agricultural and Applied Economics
Keywords Choice experiments, transport infrastructure,travel time savings, accidents, pollution reduction
Classification JEL C9,C93,N7
File CHOICE_EXPERIMENT.pdf (125374 bytes)
File-Function First version

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