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.
Keywords: Economic valuation, choice experiment, transport infrastructure, travel time savings, accidents and pollution reduction.
About this chapter
Cite this chapter as:
Phoebe Koundouri, Yiannis Kountouris, Mavra Stithou ;A Choice Experiments Application in Transport Infrastructure: A Case Study on Travel Time Savings, Accidents and Pollution Reduction, Research Topics in Agricultural and Applied Economics (2012) 3: 145. https://doi.org/10.2174/978160805263911203010145
DOI https://doi.org/10.2174/978160805263911203010145 |
Print ISSN 2589-1472 |
Publisher Name Bentham Science Publisher |
Online ISSN 1879-7415 |