Rolling stock quality - Improvements and user willingness to pay.

This study has estimated monetary valuations of various types of rolling stock and stock related attributes in relation to each other. It has used a combination of Revealed Preference (RP) and Stated Preference (SP) methods. The estimated monetary valuations of different types of rolling stock do not vary greatly and this contrasts with most of the previous quantitative research findings in this area.

The largest valuation of one stock type in relation to another was 39 pence per single trip for the comparison of Wessex electrics and Sprinters. This valuation is equivalent to 4.3% of the average fare paid. With regard to specific rolling stock attributes, this study has examined seating comfort, seating layout, ride quality, ambience, ventilation and noise. The most important attributes were found to be seating comfort, ride quality and ambience. The largest valuation obtained for seat comfort differences was 17 pence per single trip for the comparison of Networkers and Sprinters. This is equivalent to 1.9% of the average single fare. The corresponding figure for ride quality was 13 pence for the comparison of Wessex electrics and Sprinters and for ambience it was 10 pence for the comparison of Networkers and Sprinters. The maximum differences between stock types in terms of seating layout, ventilation and noise were all valued at less than five pence.

The results can be generalised to stock types not covered in this research by obtaining ratings on a ten point scale of the relevant train types or specific rolling stock attributes and entering these into the estimated model.