Option value of public transport: methodology for measurement and case study for regional rail links in the Netherlands
Transport option values can be interpreted in terms of a risk premium that individuals with uncertain demand are willing to pay over and above their expected user benefit for the continued availability of a transport facility. These values represent a benefit category not included in conventional transport appraisal.
This paper describes a methodology for measuring the option value of public transport services, and its application to two regional railway links in the Netherlands. From an Internet-based survey examining the value of regional rail services to residents, option values were concluded to be a potentially relevant benefit category in public transport policy appraisal. This survey included three different stated choice experiments to separate the willingness-to-pay for use, option use and non-use. Significant option values could be obtained from the stated choice experiments for both regional railway links.
Authors
Specifications
- Publication title
- Option value of public transport: methodology for measurement and case study for regional rail links in the Netherlands
- Publication date
- 1 September 2006
- Publication type
- Publication
- Magazine
- Transport Rev 2006; 26(5):613-43
- Product number
- 91795