Template-Type: ReDIF-Paper 1.0 Series: Tinbergen Institute Discussion Papers Creation-Date: 2011-12-22 Revision-Date: 2014-08-25 Number: 11-181/3 Author-Name: Stefanie Peer Author-Workplace-Name: VU University Amsterdam Author-Name: Erik Verhoef Author-Workplace-Name: VU University Amsterdam Author-Name: Jasper Knockaert Author-Workplace-Name: VU University Amsterdam Author-Name: Paul Koster Author-Workplace-Name: VU University Amsterdam Author-Name: Yin-Yen Tseng Author-Workplace-Name: VU University Amsterdam Title: Long-Run vs. Short-Run Perspectives on Consumer Scheduling: Evidence from a Revealed-Preference Experiment among Peak-Hour Road Commuters Abstract: This discussion paper led to a publication in the 'International Economic Review'
. Earlier studies on scheduling behavior have mostly ignored that consumers have more flexibility to adjust their schedule in the long run than in the short run. We introduce the distinction between long-run choices of travel routines and short-run choices of departure times, using data from a real-life peak avoidance experiment. We find that participants value travel time higher in the long-run context, supposedly because changes in travel time can be exploited better through the adjustment of routines. Schedule delays are valued higher in the short run, reflecting that scheduling restrictions are typically more binding in the short run. Classification-JEL: C25, D03, D80, R48 Keywords: long-run vs. short-run; scheduling decisions; valuation of travel time; valuation of schedule delays; revealed preference data; car travel; peak avoidance File-Url: http://papers.tinbergen.nl/11181.pdf File-Format: application/pdf File-Size: 517851 bytes Handle: RePEc:tin:wpaper:20110181