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This paper positions time in the centre of spatial economic analysis, with a particular view on transport behaviour …. The conventional assumption is that there is for most people in our society a constant travel time budget, so that higher … would require lower levels of mobility. Recently, the scientific construct of a so-called "time pioneer" has been introduced …
Persistent link: https://www.econbiz.de/10010372859
passengers exhibit a higher time valuation, and a less price-elastic demand, than leisure passengers. Our main result is the … identification of the time-valuation effect of price discrimination, which can work in the opposite direction as the well …-known output effect on welfare. This time-valuation effect clearly explains why discriminating prices can improve welfare even when …
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We show in general that risky investments become more attractive asthe investment horizon (n) lengthens.Specifically, any investor's maximal expected utility directlyincreases with n, as well as the investor's willingness toallocate more capital to the risky assets if his optimal strategy...
Persistent link: https://www.econbiz.de/10011303869
This paper tests the policitcal dimensions of the presidential cycle effect in U.S. financial markets. The presidential cycle effect states that average stock market returns are significantly higher in the last two years compared to the first two years of a presidential term. We confirm the...
Persistent link: https://www.econbiz.de/10011377245
The value of travel time plays an important role in cost benefit analysis of infrastructureprojects. However, the issue … of uncertainty on travel times and the implications this has forestimations of travel time values has received much less … thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in …
Persistent link: https://www.econbiz.de/10011333900
commuting costs, which encompass bothmonetary and time costs. At faster speed levels, the monetary costs increase, but the … of variabIe monetary costs to travel time costs is0.14. …
Persistent link: https://www.econbiz.de/10011338008
. If more investors invest at the same time, they share the costs. In the communication treatment, subjects can freely … communicate before choosing the investment time. We find that in groups of two players, communication increases cooperation and …
Persistent link: https://www.econbiz.de/10014299600