Print Email Facebook Twitter Stated choices and simulated experiences Title Stated choices and simulated experiences: Differences in the value of travel time and reliability Author Fayyaz, Muhammad (University of Sydney) Bliemer, Michiel C.J. (University of Sydney) Beck, Matthew J. (University of Sydney) Hess, Stephane (University of Leeds) van Lint, J.W.C. (TU Delft Transport and Planning) Date 2021 Abstract Surveys with stated choice experiments (SCE) are widely used to derive values of time and reliability for transport project appraisal purposes. However, such methods ask respondents to make hypothetical choices, which in turn could create a bias between choices made in the experiment compared to those in an environment where the choices have consequence. In this paper, borrowing principles of experimental economics, we introduce an incentive compatible driving simulator experiment, where participants are required to experience the travel time of their chosen route and actually pay any toll costs associated with the choice of a tolled road. In a first for the literature, we use a within respondent design to compare both the value of travel time savings (VTT) and value of travel time reliability (VOR) across a typical SCE and an environment with simulated consequence. Given the importance of VTT and VOR to transport decision making and the difficulty in estimating VOR using revealed preference data, our results are noteworthy and emphasise that more research on this topic is imperative. We provide suggestions on how the results herein may be used in future studies, to potentially reduce hypothetical bias that may be exhibited in SCE. Subject Hypothetical biasIncentive compatible driving simulator experimentsRoute choice behaviourStated choice experimentsValue of travel timeValue of travel time reliability To reference this document use: http://resolver.tudelft.nl/uuid:9de05072-a98e-48f5-bdb8-7dae4259098d DOI https://doi.org/10.1016/j.trc.2021.103145 Embargo date 2021-11-02 ISSN 0968-090X Source Transportation Research. Part C: Emerging Technologies, 128, 1-19 Bibliographical note Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public. Part of collection Institutional Repository Document type journal article Rights © 2021 Muhammad Fayyaz, Michiel C.J. Bliemer, Matthew J. Beck, Stephane Hess, J.W.C. van Lint Files PDF 1_s2.0_S0968090X21001625_main.pdf 4.31 MB Close viewer /islandora/object/uuid:9de05072-a98e-48f5-bdb8-7dae4259098d/datastream/OBJ/view