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Stated Preference Experiments Concerning Long Distance Business Travel in Great Britain

Marks, P. and Fowkes, A.S. (1986) Stated Preference Experiments Concerning Long Distance Business Travel in Great Britain. Working Paper. Institute of Transport Studies, University of Leeds , Leeds, UK.

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Stated preference techniques are now widely used in transport economics as an experimental tool for gathering data on consumer preferences to derive, amongst other things, estimates of demand elasticities and values of travel time, service frequency, service reliability and other deteminants of travel behaviour. However, these techniques have not to our knowledge been used in research on long distance business travel behaviour. This forms the subject of this paper. In particular, results of a stated preference experiment answered by two samples of long distance business travellers are presented. Disaggregate mode choice models are calibrated with this data; and the results are used to derive estimates of the value placed by long distance business travellers on savings in business travel time. The design of the stated preference experiment means that these values can be interpreted as leisure values of time.

The results that long distance business travellers place a high value on travel time savings. It is demonstrated that this can largely be explained by their high incomes and long work days, and the unsociable hours at which time savings occur. It is our view that the value of time estimates reported in this paper are not appropriate for use in forecasting exercises, rather they can be used to construct a value of business travel time for evaluation purposes.

Item Type: Monograph (Working Paper)
Copyright, Publisher and Additional Information: Copyright of the Institute of Transport Studies, University Of Leeds.
Institution: The University of Leeds
Academic Units: The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds)
Depositing User: Adrian May
Date Deposited: 12 Apr 2007
Last Modified: 11 Jun 2014 13:31
Published Version: http://www.its.leeds.ac.uk/
Status: Published
Publisher: Institute of Transport Studies, University of Leeds
Identification Number: Working Paper 219
URI: http://eprints.whiterose.ac.uk/id/eprint/2332

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