Mohring, Herbert; Schroeter, John; Wiboonchutikula, Paitoon - In: RAND Journal of Economics 18 (1987) 1, pp. 40-56
Travel-time savings tend to be the dominant benefit of transportation improvements in developed countries. We can infer the values travelers attach to travel time from their choices among services that differ in time and money costs. This study applies maximum-likelihood estimation techniques to...