Perception bias in route choice

Travel time is probably one of the most studied attributes in route choice. Recently, perception of travel time received more attention as several studies have shown its importance in explaining route choice behavior. In particular, travel time estimates by travelers appear to be biased against non-chosen options even if these are faster. In this paper, we study travel time perception and route choice of routes with different degrees of road hierarchy and directness. In the Dutch city of Enschede, respondents were asked to choose a route and provide their estimated travel times for both the preferred and alternative routes. These travel times were then compared with actual travel times. Results from previous studies were confirmed and expanded. The shortest time route was chosen in 41 % of the cases while the perceived shortest time route was chosen by almost 80 % of the respondents. Respondents overestimated travel time in general but overestimated the travel time of non-chosen routes more than the travel time of chosen routes. Perception of travel time depends on road hierarchy and route directness, as more direct routes and routes higher up in the hierarchy were perceived as being relatively fast. In addition, there is evidence that these attributes also influence route choice independently of perceived travel time. Finally, travel time perceptions appear to be most strongly biased against non-chosen options when respondents were familiar with the route or indicated a clear preference for the chosen routes. This result indicates that behavior will be more difficult to change for the regular travelers.     

Shipping economics: where we are and looking ahead from an institutional economics perspective [1]

There have been significant changes in the nature of shipping services in recent years. These have been most notably in the liner segment, but other parts of the market have not remained static. Technology shifts have been responsible for some of the change, but there have also been developments in institutional structures and managerial approaches. The economic drivers behind the sector, however, remain relatively poorly understood, despite a copious literature on shipping. Managerial economics has tended to put emphasis on the emergence of more sophisticated logistics structures and the role of information to tighten the overall supply chain. Industrial economists have been concerned with technical change and in particular with its interaction with more liberal markets structures. Often tied with this has been interest in the underlying nature of shipping markets (e.g. competitive, monopolistic or contestable) and, depending on the outcome, whether there is price leadership, collusion, predatory behaviour or whatever. Much of this work has been aspatial, treating shipping as any other industry with distance between demand and supply ignored or incorporated in a very simplistic manner. Environmental economists have focused on matters of fuel efficiency and pollution. This paper takes a broad overview of shipping economics in the context of the larger institutional framework within which it operates. It seeks broader analysis within an institutional economics framework, but also highlights some of the problems of achieving this.     

Valuing Estuarine Resource Services Using Economic and Ecological Models: The Peconic Estuary System Study

This article summarizes four integrated economic studies undertaken to contribute to resource preservation and restoration decisions for the Peconic Estuary System of Suffolk County, NY. Completed as part of the National Estuary Program, the studies apply distinct resource valuation methods to a wide range of resource issues. The principal goals of this article are to highlight different methodologies that may be used to assess nonmarket economic values in a coastal management context, and characterize differences in the results that one may expect from each approach. We also emphasize potential relationships among values estimated by different nonmarket methodologies, and comment on the implications of these relationships for the interpretation and use of economic value estimates.     

Traffic accident risk perception among drivers: a latent variable approach

ABSTRACT

Governments require decision tools to deal with road traffic accidents, a pandemic resulting in millions of deaths around the world. Evidence shows that human factors are one of the major causes of road accidents, and there is much interest in identifying variables that may have an impact on drivers’ perception of risk. To this aim, we design a stated choice experiment with eight hypothetical driving scenarios considering attributes that have been strongly associated with increased accident risks: (i) driving speed, (ii) driving the wrong way in a one-way street, (iii) overtaking on a bend, and (iv) driving under the influence of alcohol or drugs. Data from a sample of survey respondents are used to estimate a hybrid discrete choice model incorporating two latent variables, Driver Concentration and Safe Driving. Our results may contribute to the design of public policies geared to prevent accidents by encouraging safer driving behaviour.     

Addressing endogeneity in strategic urban mode choice models

Transportation - Endogeneity is a potential anomaly in econometric models, which may cause inconsistent parameter estimates. Transport models are prone to this problem and applications that...     

Logistics and supply chain management

In this paper an introduction to the principles and methods used in logistics and supply chain management is presented. It begins by a discussion on fundamentals and explains the relevant terms. Next policy and practice associated with logistics and freight services are regarded with a focus on the EU policy for the sector which greatly influences the development of logistics chains and services. Mathematical formulation of typical transport and logistics-related problems is also presented followed by a discussion on the concept of sustainability.