Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced...

We derive values of travel time savings (VOT) for the Madrid–Barcelona corridor, linking the two largest cities in Spain, based on the estimation of discrete choice models among the main public transport services in the corridor: air transport, high speed rail (HSR) and bus. The new HSR...

We treat the problem of fitting alternative specific constants (ASC) in models estimated with a mixture of revealed preference (RP) and stated preference (SP) data to forecast the market shares of new alternatives. This important problem can have non-trivial solutions, particularly when some of...

The derivation of a subjective value of time (SVT) requires finding the marginal rate of substitution between travel time and cost in a travel choice model. In the typical case of models with linear-in-parameters utility functions, the SVT is equal to the ratio between the parameters of travel...

The valuation of externalities in transport planning is a serious and difficult business. Many methods advocated and used in the past, such as hedonic pricing, the human capital approach and contingent valuation; have been rightly criticised for their many shortcomings. Among specialist there is...

In January 2013 the interurban passenger transport market in Germany was liberalized and several coach carriers emerged offering an alternative to the Deutsche Bahn, a state owned rail monopoly. The coach carriers have attempted to position themselves not just through lower prices but also...

The formulation of hybrid discrete choice (HDC) models including both observable alternative attributes and latent variables associated with attitudes and perceptions has become a renewed topic of discussion in recent years. Even though there have been developments related to HDC model...

A stated preference experiment is developed looking at airplane and a fictitious high-speed train trips between Santiago and Concepción in Chile. Four variables are used – travel time, fare, comfort, and service delay; a factorial fractional design allowed the experimental size to be reduced...