Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/62394 
Autor:innen: 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 6788
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
Do drivers reduce speeds when gasoline prices are high? Previous research investigating this energy conservation hypothesis produced mixed results. We take a fresh look at the data and estimate a significant negative relationship between speeding and gasoline prices. This presents a new methodology of deriving the 'Value of Time' (VOT) based on the intensive margin (previous VOT studies compare across the extensive margin) which has important advantages to circumvent potential omitted variable problems. While our VOT is 50% of the gross wage rate, we show that previous stated preference estimates are likely downward, whereas previous revealed preference estimates are systematically upward biased. We discuss implications, as VOT today is a key parameter in economics and policy.
Schlagwörter: 
value of time
speeding
gasoline price
JEL: 
D70
J17
K32
Q26
R41
Dokumentart: 
Working Paper

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