Prof Vinayak V. Dixit

School of Civil Engineering, UNSW Australia

July 22, 2014, 11:15, Room GC C2 413 (click here for the map)

Risk in Transport Through The Lenses of Experimental Economics

Transport systems are inherently risky, ranging from risk in travel time to risk in crashing. This presentation provides an overview of my current work on the use of Experimental Economics in understanding behaviour with respect to interactions of risk attitudes and subjective beliefs on crash propensity, route choice and information, and finally evaluating policies in emergency management. Experimental economics has been used intermittently since the 1960s to conduct controlled experiments to evaluate policies, but recently has gained significant interest to test theories. The presentation will also present trends, strengths and pitfalls of these methods