Hultkrantz, Lars; Mortazavi, Reza - In: Journal of Transport Economics and Policy 35 (2001) 2, pp. 285-299
Standard practice in econometric estimation of the value of travel-time changes divides travellers into market segments and assumes linear utility functions in each category. Here instead we derive a RUM-model from a second-order approximation to the utility function. The model is estimated by...