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- W3005158477 abstract "The main objective of the paper is to develop a model capable of evaluating the societal impact of rail infrastructure investment in Argentina, using a Multiple Discrete Extreme Value Model (MDCEV) estimated on Stated and Revealed preference data. The decision modelled is the mode and port choice at a planning level, where multiple alternatives can be chosen simultaneously. The relevant variables were the Free Alongside Ship (FAS) price, freight transport cost, travel time and lead time, including non-observed heterogeneity in the modelling. As a consequence, the willingness to pay measures that are used for the cost benefit analysis become non-deterministic. To include this effect simulated WTP measurements were included and compared to a deterministic and risk based approach. Two projects were tested and both showed that the deterministic approach gives higher Benefit/Cost ratio. This paper raises the concern that if non-observed heterogeneity is not considered in project evaluation it may provide misleading results and potentially lead to wrong investment priorities for the public sector." @default.
- W3005158477 created "2020-02-14" @default.
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- W3005158477 date "2020-03-01" @default.
- W3005158477 modified "2023-10-16" @default.
- W3005158477 title "Application of MDCEV to infrastructure planning in regional freight transport" @default.
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- W3005158477 doi "https://doi.org/10.1016/j.tra.2020.01.016" @default.
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