01033578

Component

Based on the stated-preference (SP) survey data collected from a sample of Osaka metropolitan area commuters, the paper examines the nature of willingness-to-pay (WTP) values respondents indicate for traveling on a tolled expressway under different levels of time pressure. This paper shows that WTP varies with time pressure, and that there is systematic downward biases in reporting WTP. The framework of prospect theory is adopted in the analysis. Econometric analyses quantify the effect of time pressure on reported WTP values. Stochastic frontier regression is used to examine the tendency to report lower values. The model performs better than conventional linear and log-linear regression models and provides evidence for downward bias.

01020180

06-1538

English

19p

2006

Transportation Research Board 85th Annual Meeting

CD-ROM

Figures (2) ; References (35) ; Tables (3)

Data collection; Expressways; Linear regression analysis; Road pricing; Stated preferences; Stochastic processes; Time; Toll roads

Willingness to pay; Willingness to pay approach

Data and Information Technology; Highways; Operations and Traffic Management; Planning and Forecasting; I72: Traffic and Transport Planning

Transportation Research Board Annual Meeting 2006 Paper #06-1538

TRIS, TRB

Mar 3 2006 10:43AM