Università della Svizzera italiana

Tourists intra-destination visits and transportation mode : a bivariate model

Masiero, Lorenzo ; Zoltan, Judit

This paper investigates tourists’ profile in relation to both intra-destination movement patterns and transportation mode choices at the destination through the use of bivariate probit models. The analysis is based on a field survey conducted among tourists visiting the Canton of Ticino, Switzerland. The results show a positive correlation between visiting more than one region and the use...

Università della Svizzera italiana

The role of the reference alternative in the specification of asymmetric discrete choice models

Masiero, Lorenzo ; Rose, John M.

Within the discrete choice modelling literature, there has been growing interest in including reference alternatives within stated choice survey tasks. Recent studies have investigated asymmetric utility specifications by estimating discrete choice models that include different parameters according to gains and losses relative to the values of the reference attributes. This paper analyses...

Università della Svizzera italiana

Accounting for WTP/WTA discrepancy in discrete choice models : discussion of policy implications based on two freight transport stated choice experiments

Masiero, Lorenzo ; Maggi, Rico

A key input in cost-benefit analysis is represented by the marginal rate of substitution which expresses the willingness to pay, or its counterpart willingness to accept, for both market and non-market goods. The consistent discrepancy between these two measures observed in the literature suggests the need to estimate reference dependent models able to capturing loss aversion by...

Università della Svizzera italiana

Price sensitivity to tourism activities : looking for determinant factors

Masiero, Lorenzo ; Nicolau, Juan L.

Literature shows evidence that there is a marked heterogeneity in price responses to tourism products, leading to a great variety of tourist sensitivities to price. It means that the role price plays is complex and, particularly challenging is that its effect is not unambiguous, thereby dismissing the idea that demand for tourism products and tourist activities is always that of ordinary...

Università della Svizzera italiana

Finding similar price preferences on tourism activities

Masiero, Lorenzo ; Nicolau, Juan L.

This article builds on the double role of the effect of prices on the choice of tourism activities: not only is it the only component of a destination marketing strategy that represents income but also a determinant factor in tourist choice. On this account, identifying patterns of tourists with different degrees of sensitivities to prices would help them design an appropriate bundle of...

Università della Svizzera italiana

Modelling freight transport demand and reference dependent choice behaviour

Masiero, Lorenzo ; Maggi, Rico (Dir.)

Thèse de doctorat : Università della Svizzera italiana, 2010 ; 2010ECO002.

The thesis focuses on discrete choice models for freight transport demand with a particular emphasis on the estimation of willingness to pay (WTP) and willingness to accept (WTA) measures. In order to cope with the research objective, I extend the classic discrete choice model specifications towards the frontier of the current literature on asymmetric model specifications in stated choice...

Università della Svizzera italiana

A comparison of prospect theory in WTP and preference space

Rose, John M. ; Masiero, Lorenzo

The importance of willingness to pay (WTP) and willingness to accept (WTA) measures in the evaluation of policy measures has led to a constant stream of research examining survey methods and model specifications seeking to capture and explain the concept of marginal rates of substitution as much as possible. Stated choice experiments pivoted around a reference alternative allow the...

Università della Svizzera italiana

Shift of reference point and implications on behavioral reaction to gains and losses

Masiero, Lorenzo ; Hensher, David A.

It is widely recognized that individual decision making is subject to the evaluation of gains and losses around a reference point. The estimation of discrete choice models increasingly use data from stated choice experiments which are pivoted around a reference alternative. However, to date, the specification of a reference alternative in transport studies is fixed, whereas it is common to...

Università della Svizzera italiana

Analyzing loss aversion and diminishing sensitivity in a freight transport stated choice experiment

Masiero, Lorenzo ; Hensher, David A.

Choice behaviour might be determined by asymmetric preferences whether the consumers are faced with gains or losses. This paper investigates loss aversion and diminishing sensitivity, and analyzes their implications on willingness to pay and willingness to accept measures in a reference pivoted choice experiment in a freight transport framework. The results suggest a significant model fit...

Università della Svizzera italiana

Estimation of indirect cost and evaluation of protective measures for infrastructure vulnerability : a case study on the transalpine transport corridor

Masiero, Lorenzo ; Maggi, Rico

Infrastructure vulnerability is a topic of rising interest in the scientific literature for both the general increase of unexpected events and the strategic importance of certain links. Protective investments are extremely costly and risks are distributed in space and time which poses important decision problems to the public sector decision makers. In an economic prospective, the evaluation...