Response time patterns in a stated choice experiment

This paper studies how response times vary between unlabelled binary choice occasions in a stated choice (SC) experiment, with alternatives differing with respect to in-vehicle travel time and travel cost. The pattern of response times is interpreted as an indicator of the cognitive processes employed by the respondents when making their choices. We find clear signs of reference-dependence in response times in the form of a strong gain–loss asymmetry. Moreover, different patterns of response times for travel time and travel cost indicate that these attributes are processed in different ways by respondents. This may be of particular relevance for choice experiments in the transportation field, where the travel time attribute is central.

[1]  Benjamin Heydecker,et al.  A discrete choice model incorporating thresholds forperception in attribute values , 2006 .

[2]  Stephane Hess,et al.  Linking Response Quality to Survey Engagement: A Combined Random Scale and Latent Variable Approach , 2013 .

[3]  S. Palmer Vision Science : Photons to Phenomenology , 1999 .

[4]  Joffre Swait,et al.  Distinguishing taste variation from error structure in discrete choice data , 2000 .

[5]  D. Kahneman Maps of Bounded Rationality: Psychology for Behavioral Economics , 2003 .

[6]  K. Axhausen,et al.  Habitual travel behaviour: Evidence from a six-week travel diary , 2003 .

[7]  Bruno De Borger,et al.  The trade-off between money and travel time: A test of the theory of reference-dependent preferences , 2008 .

[8]  Susan Hanson,et al.  Repetition and Variability in Urban Travel , 2010 .

[9]  Jj Louviere,et al.  Confound it! That pesky little scale constant messes up our convenient assumptions , 2006 .

[10]  Maria Börjesson,et al.  Experiences from the Swedish Value of Time study , 2011 .

[11]  Reza Mortazavi,et al.  ANOMALIES IN THE VALUE OF TRAVEL-TIME CHANGES , 2001 .

[12]  Robert Kohn,et al.  Dissecting the Random Component of Utility , 2002 .

[13]  F. Koppelman,et al.  An examination of the determinants of day-to-day variability in individuals' urban travel behavior , 1986 .

[14]  J. Bates,et al.  Size and sign of time savings , 2001 .

[15]  N. Klein,et al.  Context Effects on Effort and Accuracy in Choice: An Enquiry into Adaptive Decision Making , 1989 .

[16]  Richard T. Carson,et al.  Combining Sources of Preference Data for Modeling Complex Decision Processes , 1999 .

[17]  A. Tversky,et al.  Loss Aversion in Riskless Choice: A Reference-Dependent Model , 1991 .

[18]  E. Higgins Knowledge activation: Accessibility, applicability, and salience. , 1996 .

[19]  Mogens Fosgerau,et al.  Loss Aversion and Individual Characteristics , 2011 .

[20]  John M. Rose,et al.  Can scale and coefficient heterogeneity be separated in random coefficients models? , 2012 .

[21]  E. I. Pas,et al.  Intrapersonal variability in daily urban travel behavior: Some additional evidence , 1995 .

[22]  Neil Malhotra,et al.  Completion Time and Response Order Effects in Web Surveys , 2008 .

[23]  Y. Susilo The short-term variability and the long-term changes of individual spatial behavior in urban areas , 2005 .

[24]  A. Daly,et al.  The value of small time savings for non-business travel , 2014 .

[25]  Sabrina M. Tom,et al.  The Neural Basis of Loss Aversion in Decision-Making Under Risk , 2007, Science.

[26]  Q Springer,et al.  Means matter, but variance matter too: Decomposing response latency influences on variance heterogeneity in stated preference experiments , 2006 .