Passenger Value of Time, Benefit-Cost Analysis and Airport Capital Investment Decisions, Volume 2: Final Report (2015) / Chapter Skim
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Pages 96-102
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From page 96... ...
4 FUTURE RESEARCH DIRECTIONS ACRP 03-19 is designed to span both broad and narrow topics relating to airport capital investment. In the broad sense, it is intended to improve the application of benefit-cost analysis for airport investment decision-making through research into the value of air passenger travel time savings and preparation of a guidebook on integrating the value of air passenger travel time into benefit-cost analysis.
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From page 97... ...
4.1 Research Conducted Research for the current project initially drew on literature and case studies to review tools and analytical techniques used by airport managers and airport sponsors to evaluate: (1) how capital investment decisions are made; and (2)
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4.2 Recommendations for Future Research Refine and extend the findings of this project The following research activities will add depth to the "willingness-to-pay" analysis that was reported in Chapter 3: 1) Increase the number of respondents to follow-on stated preference surveys to allow more in-depth analysis; 2)
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questions in order to shorten the survey length. While necessary, these trade-offs limited the issues that the survey was able to address.
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In an attempt to address this concern, some of the choice experiments presented different times and costs for the same ground access mode, although this presented the respondents with a counter-intuitive situation in which one alternative had a different ground access time and/or cost from the other alternative, when both alternatives used the same ground access mode (which, of course, in the real world would have the same travel time and cost in each alternative)
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of an air trip, the literature review, and analysis of tools and techniques. The future project could consist of a much larger sample size, perhaps one with 5,000 or more responses, but divided into (perhaps)
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From page 102... ...
between flights at different airports. While it is clear that air travelers choose between flights based on cost differences, departure and arrival time considerations, and such factors as the airline, and the number and location of any flight connections, it is much less clear how the time spent in the airport terminal is perceived, and whether congestion or other in-terminal considerations are factors affecting the choice of flights.
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