RT info:eu-repo/semantics/article
T1 Values of Travel Time for Recreational Trips under Different Behavioural Rules
A1 González Marrero, Rosa Marina
A1 Román, Concepción
A1 Marrero, Ángel Simón
A2 EconomíaContabilidad y Finanzas
K1 value of time
K1 discrete choice models
K1 random regret minimization
K1 random utility maximization
K1 revealed preferences
AB In this study, discrete choice models that combine different behavioural rules are estimated to study the visitors’ preferences in relation to their travel mode choices to access a national park. Using a revealed preference survey conducted on visitors of Teide National Park (Tenerife, Spain), we present a hybrid model specification—with random parameters—in which we assume that some attributes are evaluated by the individuals under conventional random utility maximization(RUM) rules, whereas others are evaluated under random regret minimization (RRM) rules. We then compare the results obtained using exclusively a conventional RUM approach to those obtained using both RUM and RRM approaches, derive monetary valuations of the different components of travel time and calculate direct elasticity measures. Our results provide useful instruments to evaluatepolicies that promote the use of more sustainable modes of transport in natural sites. Such policies should be considered as priorities in many national parks, where negative transport externalities such as traffic congestion, pollution, noise and accidents are causing problems that jeopardize not only the sustainability of the sites, but also the quality of the visit.
YR 2021
FD 2021
LK http://riull.ull.es/xmlui/handle/915/39807
UL http://riull.ull.es/xmlui/handle/915/39807
LA en
DS Repositorio institucional de la Universidad de La Laguna
RD 19-nov-2025