Marginal Utility of Income and value of time in urban transport
نویسنده
چکیده
We relax the assumption of constancy of the marginal utility of income into a structural model of urban transportation with endogenous congestion. We examine the impact of unobserved heterogeneity in Marginal Utility (MU) of income on the determinants of travel by estimating the model using household survey data. We show that the value of time is no more statistically different across time slots and that the model is robust to all other results. The author is grateful to the participants of the Midwest Econometrics Group for their useful comments. The author's research was partially supported by Charles Phelps Taft grants. Citation: Viauroux, Christelle, (2008) "Marginal Utility of Income and value of time in urban transport." Economics Bulletin, Vol. 4, No. 3 pp. 1-8 Submitted: January 26, 2008. Accepted: March 7, 2008. URL: http://economicsbulletin.vanderbilt.edu/2008/volume4/EB-08D80014A.pdf
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تاریخ انتشار 2008