Hypothetical bias and certainty calibration in a value of time experiment

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This study is the first to analyze hypothetical bias in a willingness to pay for time context as well as the first to test certainty calibration of the value of time. Hypothetical and real actions are compared in an experimental setting where the subjects are given an offer to leave the experiment in advance by paying a given amount of cash. The results show a weak tendency of positive hypothetical bias in the willingness to pay for value of time, though this effect is not different from zero at conventional significance levels. However, certainty calibration, by using the information from a follow-up question where the subjects are self-stating their preference certainty of their hypothetical choice, provides evidence of a significant positive hypothetical bias for non-certain subjects whereas this bias is eliminated for certain subjects.

MEET US


25-26
Apr

Cost Benefit Analysis (CBA) workshop in Stockholm

An open seminar and workshop in Stockholm will be held on 25-26 April 2018. The workshop deals with the use of CBA as a basis for decision-making in the public sector. The workshop is organized by, among others, Professor Jan-Eric Nilsson, VTI.
13-14
Jun

The 6st Humanist Conference

The 6th HUMANIST Conference will take place 13-14 June 2018 in the Hague, The Netherlands. The scope of the conference covers a wide range of topics on Human Factors in Transport. Tania Willstrand and Alexander Eriksson will present their research results.

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