Stated choices and simulated experiences

Differences in the value of travel time and reliability

Journal article (2021)

Authors

Muhammad Fayyaz University of Sydney
Michiel C.J. Bliemer University of Sydney
Matthew J. Beck University of Sydney
Stephane Hess University of Leeds
J.W.C. van Lint Transport and Planning - CEG
Research Group
Transport and Planning (CEG) (TU Delft)
Copyright: © 2021 Muhammad Fayyaz, Michiel C.J. Bliemer, Matthew J. Beck, Stephane Hess, J.W.C. van Lint
DOI
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https://doi.org/10.1016/j.trc.2021.103145
Stated choice experiments Route choice behaviour Value of travel time Hypothetical bias Incentive compatible driving simulator experiments Value of travel time reliability
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Published Date

2021

Language

English

Reuse Rights

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Faculty

Civil Engineering & Geosciences

Department

Transport and Planning

Research Group

Transport and Planning

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.