Abstract Users of transportation systems face economic decisions that involve cash flows in different points in time. In making these intertemporal choices, users tradeoff between immediate and future benefits and costs. For example, battery electric vehicles require a higher investment but offer important energy savings that may pay off. Using an appropriate discount rate, future costs are transformed into a present equivalent that can be directly compared with upfront expenses or known prices. In this paper we review different methods for measuring individual discount rates that have been used in the literature to discuss, in particular, the findings of the “energy paradox” or undervaluation of future savings (making more difficult the adoption of energy efficient vehicles). We identify two main methods of treating discount rates in discrete choice models, namely endogenous and exogenous discounting. Exogenous discounting addresses some problems of the endogenous discounting method (attribute correlation, endogeneity, and imposition of rational evaluation of future costs), but lacks correct treatment of unobserved heterogeneity. We also review experimental elicitation of intertemporal preferences that accounts for heterogeneous discounting. In particular, we tested a modified version of a reward-over-time choice experiment that can be easily incorporated into transportation surveys. In addition, we compared the experimental discount rates with those obtained from a contingent valuation exercise. The continent valuation exercise not only provided a much higher mean for the discount rate (13.93 % was the mean experimental discount rate, whereas the contingent valuation mean was 93.9 %), but also the level of variability among respondents was unexpectedly high (6.4–267 %).


    Zugriff

    Zugriff über TIB

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    On the problem of measuring discount rates in intertemporal transportation choices


    Beteiligte:
    Wang, Chen (Autor:in) / Daziano, Ricardo A. (Autor:in)

    Erschienen in:

    Erscheinungsdatum :

    2015




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Print


    Sprache :

    Englisch



    Klassifikation :

    BKL:    55.80 Verkehrswesen, Transportwesen: Allgemeines / 74.75 Verkehrsplanung, Verkehrspolitik
    Lokalklassifikation TIB:    535/7000



    On the problem of measuring discount rates in intertemporal transportation choices

    Wang, Chen / Daziano, Ricardo A. | Online Contents | 2015


    Transportation system choices - ROI implications

    GAELICK, CAROLE / GREENBERG, JOEL | AIAA | 1988


    THE ROLE OF TWO INTEREST RATES IN THE INTERTEMPORAL CURRENT ACCOUNT MODEL

    Rubaszek, M. | British Library Online Contents | 2012



    Providing Transportation Choices: A Case Study in Transportation Demand Management

    Spillar, R. J. / Dehghani, Y. / Davis, D. H. et al. | British Library Conference Proceedings | 1992