Valuing Users Willingness to Pay for Rolling Stock Improvements



Valuing Users Willingness to Pay for Rolling Stock Improvements

Authors

MURPHY P and TEMPLE S, Oscar Faber, WARDMAN M and WHELAN G, University of Leeds, UK

Description

The value that customers place on rolling stock attributes is an important issue for the train operating companies and rolling stock manufacturers. There have been concerns regarding the age and robustness of existing research in this field and the fact t

Abstract

The value that customers place on rolling stock attributes is an important issue for the train operating companies and rolling stock manufacturers. There have been concerns regarding the age and robustness of existing research in this field and the fact that most of this relates to Inter City stock types. OPRAF was interested in obtaining more general and up to date valuations of rolling stock for the benefit of the rail industry as a whole. The main objective of this study undertaken by ITS Leeds and Oscar Faber was therefore to develop up to date estimates of the value to passengers of a range of possible rolling stock improvements. The main focus of the study was longer distance commuter routes although information from business and leisure travellers was also collected. The techniques used in this study are novel for valuing rolling stock in that they are based on actual (RP) choices as well as hypothetical (SP) choices. The study was carried out in three phases:

* Review of Previous Research

* Qualitative Research

* Quantitative Research using a combination of RP and .SP data collection techniques

These are now discussed in turn.

Publisher

Association for European Transport