# 11-181/3 (2011-12-22; 2014-08-25)

Stefanie Peer, VU University Amsterdam; Erik Verhoef, VU University Amsterdam; Jasper Knockaert, VU University Amsterdam; Paul Koster, VU University Amsterdam; Yin-Yen Tseng, VU University Amsterdam
long-run vs. short-run; scheduling decisions; valuation of travel time; valuation of schedule delays; revealed preference data; car travel; peak avoidance
JEL codes:
C25, D03, D80, R48

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.