Hypothetical bias and certainty calibration in a value of time experiment

Download

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.

LATEST NEWS


2017-11-30

Millions for research into maritime transport and the environment

Maritime transport is a major source of emissions of harmful air pollutants and carbon dioxide. In a new project, a research team from the Swedish National Road and Transport Research Institute (VTI) and the University of Gothenburg has received SEK 6.4...


2017-11-30

New research programme for more efficient travel

The Swedish National Road and Transport Research Institute (VTI) is playing an important role in a major new research programme to find radical solutions leading to fewer trips and more efficient travel, along with tools to enable better use of roads and...


2017-11-30

Simulator used to practice emergency responses safely

Emergency responses of the police, ambulance, and rescue services are associated with a high risk of accidents, but practicing them in real traffic is neither safe nor permissible. A simulator-based method developed by the Swedish National Road and Transport...


2017-10-26

Simulation of cut-in by manually driven vehicles in platooning scenarios

A study in a VTI-driving simulator has showed that a platoon will be able to handle a cut in from a manually driven car. The results of this study have recently been presented at two conferences in Japan.


2017-10-16

ERPUG Forum

The five-year anniversary of European Road Profile Users' Group (ERPUG) Forum will take place at Ramboll head quarter, Copenhagen, Denmark October 19-20, 2017.


2017-09-29

Self-driving buses in Sweden next year?

A self-driving, fossil-free bus. This idea might become reality through a forthcoming collaborative project involving the Swedish National Road and Transport Research Institute (VTI), Linköping University and several other participants. The project group aim...