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Experimental Economics and choice in transportation: Incentives and context
School of Civil and Environmental Engineering, University of New South Wales, Sydney, Australia.
Australian School of Business, University of New South Wales, Sydney, Australia.
Örebro University, Örebro University School of Business. Center for Economic Analysis, Georgia State University, Atlanta, United States; University of Cape Town, Cape Town, South Africa.
School of Civil and Environmental Engineering at Purdue University, West Lafayette, United States.
2017 (English)In: Transportation Research Part C: Emerging Technologies, ISSN 0968-090X, E-ISSN 1879-2359, Vol. 77, p. 161-184Article in journal (Refereed) Published
Abstract [en]

This paper reviews the preconditions for successful applications of Experimental Economics methods to research on transportation problems, as new transportation and research technologies emerge. We argue that the application of properly designed incentives, the hallmark of Experimental Economics, provides a high degree of experimental control, leading to internal validity and incentive compatibility. Both of these are essential for ensuring that findings generalize to contexts outside the immediate application. New technologies, such as virtual reality simulators, can generate external validity for the experiments by providing realistic contexts. GPS and other tracking technologies, as well as smart phones, smart cards and connected vehicle technologies can allow detailed observations on actions and real-time interactions with drivers in field experiments. Proper application of these new technologies in research requires an understanding of how to maintain a high level of internal validity and incentive compatibility as external validity is increased. In this review of past applications of Experimental Economics to transportation we focus on their success in achieving external and internal validity.

Place, publisher, year, edition, pages
Elsevier, 2017. Vol. 77, p. 161-184
Keywords [en]
Transportation; Experimental Economics; Induced Value Theory; Traffic equilibrium; Safety; Travel choices; Driving simulator; Virtual reality; External validity; Internal validity
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:oru:diva-57491DOI: 10.1016/j.trc.2017.01.011ISI: 000398875600010Scopus ID: 2-s2.0-85011934001OAI: oai:DiVA.org:oru-57491DiVA, id: diva2:1091202
Note

Funding Agencies:

United States Federal Highway Administration  DTFH61-09-H-00012

Australian Research Council  DP150103299

Available from: 2017-04-26 Created: 2017-04-26 Last updated: 2018-07-31Bibliographically approved

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Rutström, Elisabet

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