Zheng Li

Zheng Li
Xi'an Jiaotong University | XJTU · School of Economics and Finance

PhD

About

63
Publications
19,951
Reads
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1,304
Citations
Introduction
Dr. Zheng Li is Professor of Economics at the School of Economics and Finance, Xi’an Jiaotong University, and Honorary Professor of ITLS, the University of Sydney Business School. Zheng’s main research interest is the frontier interdiscipline of transport economics and behavioral economics.

Publications

Publications (63)
Article
Full-text available
We use data on travel decision making to estimate a structural model that elicits travellers’ risk attitudes, with a focus on the mode-specific nature of risky travel time. We find notable intra-individual heterogeneity in risk attitudes when a decision maker faces two modes with distinctive risks in terms of different travel time variability shown...
Article
We use a variant of machine learning (ML) to forecast Australia's automobile gasoline demand within an autoregressive and structural model. By comparing the outputs of various model specifications, we find that training set selection plays an important role in forecasting accuracy. More specifically, however, the performance of training sets starti...
Article
This study conducts an experimental analysis of risky travel choice behaviour, while accounting for the trade-off between attributes, nonlinearity in utility specification and perceptual conditioning. The focus is on empirically measuring between individual heterogeneity in beliefs, and a key finding is that the sampled decision makers are associat...
Article
The users' taste preferences for the demand responsive customized bus (DRCB) and, in particular, the its mechanism of hetero-geneity, which determine routing, timetabling, and even launch and cancellation of the DRCB service, have not been given enough attention. Using a stated preference experiment in the context of mode choice between DRCB and a...
Article
The potential contributors to bus rapid transit (BRT) performance are investigated within an ordered choice modelling framework, in which the dependent variable is the BRT standard (Gold, Silver, Bronze or Basic), developed by the Institute for Transportation and Development Policy (ITDP). The identified significant predictors are peak-hour speed,...
Article
Using a route choice experiment with embedded travel time variability, this study empirically estimates car commuters’ risk attitudes and taste preferences within a nonlinear mixed logit model. In addition to the identified overall risk‐taking behaviour, we find that risk attitudes covary with some sociodemographic characteristics, that is, older c...
Article
Stated choice analysis has been extensively applied to understand choice behavior with travel time variability. However, under a risk-neutral and belief-neutral assumption, the conventional approach to travel time variability has a number of behavioral limitations. In this review paper, we illustrate the violation of linear utility maximization und...
Chapter
Managing population mobility is a key to urban growth and sustainable development. This study uses administrative and business data from a number of trustworthy and publicly-available websites for public transport to access passenger flows in a real-time manner. A case study is used to illustrate the application, with intercity passenger flows by p...
Article
A number of studies have found that the willingness-to-pay (WTP) results estimated from revealed preference (RP) and stated preference (SP) data tend to be different. In this paper, we empirically estimate values of travel time savings from an SP data set and an RP data set and compare the findings within this study and between studies. The evidenc...
Article
This paper investigates the influence of metro accessibility on Xi'an residential property values. The key finding is that proximity to metro stations tends to have a positive but nonlinear effect. Within two-kilometre road network distances from metro stations, property value uplift is lowest in areas immediately adjacent to metro stations, explai...
Article
In this paper, we incorporate the attitude towards risk into a scheduling model to account for travel time variability, using a choice experiment of car commuters choosing from risky alternatives. The parameters that represent unobserved and observed heterogeneity in risk attitudes are jointly estimated within a non-linear utility framework. The mo...
Article
Managing population mobility is a key to urban growth and sustainable development. This study uses administrative and business data from a number of trustworthy and publicly-available websites for public transport to access passenger flows in a real-time manner. A case study is used to illustrate the application, with intercity passenger flows by p...
Article
Travel time variability is a random phenomenon, and within the presence of it, uncertainty is associated with decision making. When a choice is made in an uncertain situation, the probability distribution is based on the subjective judgments of a decision maker. This paper introduces a psychological perspective to the concept of travel time variabi...
Chapter
Full-text available
When planning, designing and implementing a new BRT corridor, several decisions need to be made. Each decision taken will affect the corridor performance in a particular way. Understanding the relationship between the operation performance of a corridor and its design characteristics is crucial to achieve the corridor’s goals in terms of mobility....
Chapter
Introduction Public transport systems are increasingly aiming at providing an integrated service for the user. In these systems, BRT is a key component since it can provide a fast trip to users in congested urban setting. The promise of BRT is not just that it can be delivered at a fraction of the cost of a rail-based system and considerably faster...
Article
This paper reports the findings of a comparative analysis of bus rapid transit (BRT) performance using information on cross-section data of 121 BRT systems throughout the world, in which random effects regression is employed as the modelling framework for stand alone patronage and ridership models, and 3SLS for joint models in which frequency is tr...
Article
This paper proposes a fully subjective approach to capture the impact of travel time variability on travel decision making that accommodates subjective probabilities and source preference, the latter construct referring to respondent preferences to make judgments on matters that they have reasonable if only vague beliefs about than on matched chanc...
Chapter
The selection of appropriate public transport investments that will maximise the likelihood of delivering the levels of service required to provide a serious alternative to the car is high on the agendas of many metropolitan governments. Mindful of budget constraints, it is crucial to ensure that such investments offer the greatest value for money....
Article
There is a small but growing interest in traveller behaviour research on investigating ways to identify and quantify degrees of belief (as subjective probabilities or other propositions) associated with behavioural responses, especially in the context of popular travel choice methods such as stated choice experiments, as a way of adding to our unde...
Article
Full-text available
Crowding in public transport is becoming a growing concern as demand grows at a rate that is outstripping available capacity. To capture the user benefits associated with reduced crowding from improved public transport, it is necessary to identify the relevant dimensions of crowding that are meaningful measures of what crowding means to travelers....
Article
Valuation of travel time savings is a critical measure in transport infrastructure appraisal, traffic modelling and network performance. It has been recognised for some time that the travel times associated with repeated trips are subject to variation, and hence there is risk embedded in the treatment of expected travel time. In the context of the...
Article
Voting support for congestion charging has a very recent history with, until now, only two congestion charging schemes approved by a majority in referendum voting (Stockholm and Milan). This paper presents a review of referendum voting behaviour in road pricing reform, in which a number of key factors that influence voters' behaviour are identified...
Article
The development of behaviourally richer representations of the role of well-established and increasingly important influences on modal choice, such as trip time reliability and accounting for risk attitude and process rules, has moved forward at a fast pace in the context of automobile travel. In the public transport setting, such contributions hav...
Article
Full-text available
This paper reviews evidence on the reported impact of improved accessibility delivered through high speed rail (HSR) on land and property values. Market monitoring evidence was collected from eight countries, using published sources to compare the evidence within and between countries. The evidence is variable, suggesting that improved accessibilit...
Article
Full-text available
Traditionally, the empirical valuation of travel time savings (VTTS) is obtained from a linear utility specification in a discrete choice model, which implicitly assumes a risk-neutral attitude. This paper draws on recent contributions by the authors that accommodate the attitude towards risk within a non-linear utility specification as a preferred...
Article
Full-text available
We have collected information on 46 bus rapid transit (BRT) systems throughout the world to investigate the potential patronage drivers. From a large number of candidate explanatory variables (quantitative and qualitative), 11 sources of systematic variation are identified which have a statistically significant impact on daily passenger-trip number...
Article
Attitude towards risk is important to individual decision making. Rank-dependent utility theory is an appealing framework within which to study decision making under risk. This paper specifies Rank-Dependent Utility (RDU) models in the context of a stated choice experiment of commuter's risky route choice to (a) estimate willingness to pay for trav...
Article
In traditional travel time reliability valuation studies, the value of travel time savings and the value of travel time reliability (or reduced time variability) are estimated within a linear utility functional form, which assumes risk-neutral attitudes for decision makers. In this paper, we develop nonlinear scheduling models to address both risk...
Article
Full-text available
The appropriate interpretation of a behavioural outcome requires allowing for risk attitude and belief of an individual, in addition to identification of preferences. This paper develops an Attribute-Specific Extended Rank-Dependent Utility Theory model to better understand choice behaviour in the presence of travel time variability, in which these...
Article
Full-text available
The opportunity to have seven data sets associated with a stated choice experiment that are very similar in content and design is rare, and provides an opportunity to look in detail at the empirical evidence within and between each data set in the context of a range of discrete choice estimation methods, from multinomial logit to latent class to sc...
Article
Full-text available
This paper reviews 20 published congestion pricing studies with a focus on the dimensions of the stated preference or opinion survey, especially the type of charging regime and the structure of the charge. The effectiveness and acceptability of different charging regimes, as well as behavioural responses such as changes in departure time, car use,...
Article
Full-text available
Behavioural choice modelling is growing in interest as a framework to understand the decision-making of shippers, freight forwarders and other freight agents. Since the 1980s, we have witnessed an increasing number of freight behaviour studies, primarily the freight mode choice, where the roles of one or more freight decision-makers has been addres...
Article
Travel time variability (i.e., random variations in travel time) leads to a travel time distribution for a repeated trip from a fixed origin to destination (e.g., from home to work). To represent travel time variability, a series of possible travel times per alternative (departure time, route or mode) are often used in stated choice experiments. In...
Article
This paper reviews public transport crowding valuation research, using a number of primary studies conducted in the UK, USA, Australia and Israel. We identify three measures used to value crowding (a time multiplier, a monetary value per time unit and a monetary value per trip), and associated ways of representing crowding in stated preference expe...
Article
One key initiative to reducing the environmental impact of motor vehicles is to identify the number and types of vehicle in the vehicle stock which are likely to excessively contribute to air pollution. Such an assessment is dependent on quantifying vehicle scrappage which, in turn, relies on the provision of temporally consistent motor vehicle reg...
Article
Freight demand elasticity studies vary significantly in terms of the demand measure, data type, estimation method, commodity type, etc. This wide variation makes it difficult to compare empirical estimates when the differences may arise in part from the methods and data used. In this paper we conduct a comparative analysis to identify systematic so...
Article
In recent years we have seen important extensions of logit models in behavioural research such as incorporation of preference and scale heterogeneity, attribute processing heuristics, and estimation of willingness to pay (WTP) in WTP space. With rare exception, however, a non-linear treatment of the parameter set to allow for behavioural reality, s...
Article
This paper sets out a demand modelling framework for the development of a regional transport and land use model system (R-Tresis), to be implemented for New South Wales (Australia). Traditionally, the focus of such a model system has been major metropolitan areas such as Sydney, where we have developed Tresis (Hensher, 2002). Given the growing conc...
Article
This paper uses an attribute-based stated choice experiment with a design adopted from Hensher's Design of Designs study, originally implemented in Australia, to investigate the role, in Taiwan, of the numbers of alternatives, choice sets, attributes, attribute levels, and the range of attribute levels, on choice response and implied willingness to...
Article
Full-text available
Over the last 15 years we have seen a small but growing interest in Prospect Theory (PT) as an alternative behavioural paradigm within which to represent traveller behaviour. Some elements of PT such as gains and losses have become so popular in travel choice studies that authors increasingly indicate that they are applying PT. In its strictest int...
Article
Full-text available
A primary motivation of this paper is to draw together, in one source, information on the nature, extent and performance of Australia's evolving toll road network which is currently spread across many disparate published and unpublished sources. This paper provides key information (e.g. length, toll rates, year opened, operator(s) and payment alter...
Article
The use of fossil fuels in transportation is an important topic as a result of growing concerns over global warming. Automobile petrol demand has been of particular interest to researchers and policy-makers, given that the automobile is a major contributor to the enhanced greenhouse effect. This paper forecasts Australia's automobile petrol demand...
Article
Full-text available
This paper reviews and critiques the modelling frameworks and empirical measurement paradigms used to obtain willingness to pay (WTP) for improved travel time reliability, suggesting new directions for ongoing research. We also estimate models to derive values of reliability, scheduling costs and reliability ratios in the context of Australian toll...
Article
Using a sample of 245 direct petrol price elasticities of car travel collected from 52 published mode choice studies, a random coefficient regression model is estimated to account for heterogeneity in the influence of the type of data used in the various studies (RP, SP and a combination of RP/SP). The focus on the type of data is designed to highl...
Article
Full-text available
Transport fuel consumption and its determinants have received a great deal of attention since the early 1970s. In the literature, different types of modelling methods have been used to estimate petrol demand, each having methodological strengths and weaknesses. This paper is motivated by an ongoing need to review the effectiveness of empirical fuel...
Article
Full-text available
Trucking is the dominant freight mode in Australia's domestic freight market. During the past several decades, we have witnessed substantial growth in road freight demand in Australia. This paper provides an overview of road freight demand in Australia using currently available data. The key drivers associated with growth of the road freight task o...
Article
Full-text available
Valuation of travel time savings (VTTS) is a critical measure in transport infrastructure appraisal, traffic modelling and network performance. It has been recognised for some time that the traditional measure of VTTS should be complemented by a valuation of travel time reliability (VOR). An alternative approach, proposed in this paper, promotes th...
Article
Petrol is the most significant fuel and accounts for the largest consumption share among the various road transport energies. This paper presents different econometric modelling systems to estimate the demand for petrol in the Australian road transport sector, emphasizing the effects of national income and petrol price. Quarterly time series data f...

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Using Big Data to gain a better understanding of economy