Prof. Elisabetta Cherchi

Technical University of Denmark

November 18, 2010, 12:15, Room GC B3 31 (click here for the map)

Assessment of regeneration projects in urban areas of environmental interest: a stated choice approach to estimate use and quasi-option values

A specific problem inherent in urban planning in areas of environmental interest is that problems can occur when ideas are effectively turned into action, and it is possible that eventually the implementation is not consistent with the plan. If the development of the project produces undesired effects, there might be an irreversible loss of environmental values. To evaluate the quasi-option values associated with environmental renewal projects in urban areas and to elicit inter-temporal preference over projects with different time spans. We adopt an attribute-based stated choice approach to elicit preferences about three planning alternatives for environmental renewal of the corridor along the beach front, including car access restrictions. Since such projects involve some uncertainty and irreversibility, the quasi-option values associated with project development is estimated. Results show a great sensitivity towards environmental renewal, and this varies significantly with the characteristics of each individual. However, individuals show a strong preference for a mild environmental renovation rather than an extreme ecological scenario. Results also show that a more prudent development strategy is valued at about four times greater than a procedure that provides a greater chance of an undesired outcome.


Elisabetta Cherchi has recently joined DTU Transport as Associated Professor. Previously she has been Lecturer in Econometrics Methods for Transportation at the Department of Territorial Engineering, Universita de Cagliari (Italy), Associate Lecturer at the Transport Research Centre, Universidad Politecnica de Madrid (Spain) and Researcher at CTS, Imperial College (UK) where she is still Honorary Researcher. She has collaborated for almost 15 years with Pontificia Universidad Catolica de Chile, and more recently with Maryland University. Her main research interest is in the demand modeling of consumer behavior, with particular reference to discrete choice analysis, microeconomic derivation of behavioral models and project evaluation. She is member of the Editorial Board of Transportation Research part B and Transportation, and Board Member of the International Association of Behavioral Research (IATBR). Elisabetta Cherchi has been also involved as consultant in more that 25 transport projects at local, national and international level.