Experimental Economics and choice in transportation: Incentives and context

This paper reviews the preconditions for successful applications of Experimental Economics methods to research on transportation problems, as new transportation and research technologies emerge. The authors 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. Global positioning system (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 the authors focus on their success in achieving external and internal validity.

Language

  • English

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Filing Info

  • Accession Number: 01633907
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Mar 17 2017 3:51PM