Passengers' willingness to pay for airport ground access time savings
planning - service rationalisation, economics - willingness to pay, place - airport
Willingness to pay, Travel time, Time savings, Passengers, Journey time, Airport ground transportation
There are cases when passengers are willing to pay a premium to reduce the travel time, in particular when the trip has to be made. This paper aims to provide insight into factors that determine passengers' willingness to pay to reduce travel time for their ground access to an airport. A methodology is developed that comprises two steps: the identification of the passengers with zero willingness to pay and from the rest the estimation of the additional price they are willing to pay to reduce their travel time. For the first step a Probit model was formulated and for the second a linear regression model. To this purpose, data has been collected employing stated preference from passengers at the Athens International Airport. It has been found that a high percentage of passengers have zero willingness to pay, and of the remaining ones those using public transport have a significant willingness to pay to reduce access travel time. The methodology and the models are structured in such a way that their transferability to any airport environment is possible, thus providing a useful tool for decisions relating to airport ground access measures.
Tsamboulas, Dimitrios, Nikoleris, Anastasios, (2008). Passengers' willingness to pay for airport ground access time savings. Transportation Research Part A: Policy and Practice, Volume 42, Issue 10, pp 1274-1282.