2.4 Summary and Conclusions
The values of saving in the time spent in journeys to study locations range from 3.04 €/hour for students with low preference for leisure (α=0), to 1.35 €/hour for students with very high preference for leisure.
The estimated coefficients of supply variables are affected by negative signs, results which are intuitively appropriate and show us that an increase in variable private vehicle times and costs difference with respect to bus will decrease the probability to travel by private vehicle. On the other hand, the socio-economic variables reveal that younger men have more probability to travel by private car than women and older people. The annex shows that, statistics improve if we eliminate socio-economic, age and sex variables from our model.
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Coto-Millán, P., Inglada, V., Pesquera, M.A., Sainz, R., Sánchez, N. (2007). Estimation of the Economic Value of Student Urban Travel Time. In: Coto-Millán, P., Inglada, V. (eds) Essays on Transport Economics. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-7908-1765-2_3
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