Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/26405
Title: Uncovering the distribution of motorists' preferences for travel time and reliability
Authors: Small, KA
Winston, C
Yan, J
Keywords: Congestion pricing
Mixed logit
Product differentiation
Stated preference
Value of time
Issue Date: 2005
Publisher: Blackwell Publishing
Source: Econometrica, 2005, v. 73, no. 4, p. 1367-1382 How to cite?
Journal: Econometrica 
Abstract: 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.
URI: http://hdl.handle.net/10397/26405
ISSN: 0012-9682
DOI: 10.1111/j.1468-0262.2005.00619.x
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