Option value of public transport: Methodology for measurement and case study for regional rail links in the Netherlands

Karst Geurs*, Rinus Haaijer, Bert Van Wee

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

38 Citations (Scopus)

Abstract

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.

Original languageEnglish
Pages (from-to)613-643
Number of pages31
JournalTransport reviews
Volume26
Issue number5
DOIs
Publication statusPublished - 1 Sep 2006
Externally publishedYes

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