TY - JOUR
T1 - Consumer demand for fully automated driving technology
AU - Shin, Kong Joo
AU - Tada, Naoto
AU - Managi, Shunsuke
N1 - Funding Information:
This research is supported by the grants from RIETI, Japan and Ministry of Education, Culture, Sports, Science and Technology in Japan (MEXT) under a Specially Promoted Research grant. Any opinions, findings, and conclusions expressed in this material are those of the authors and do not necessarily reflect the views of the MEXT. We also thank Naoto Tada for providing extensive assistance.
Publisher Copyright:
© 2018 Economic Society of Australia, Queensland
PY - 2019/3
Y1 - 2019/3
N2 - Automated driving technology is one of the most important applications of advanced artificial intelligence technology, which is being extensively incorporated into transportation worldwide. Policy makers expect the introduction of fully automated vehicles (FAV) to significantly reduce the number of accidents that are due to human error and road congestion. Using originally collected large-sample survey data from 2015, this paper evaluates current consumer demand in terms of purchase intention (PI) and willingness to pay (WTP) for FAV in Japan. On average, consumers expect FAV to be available for purchase in approximately 13 years, and 47% of respondents report positive PI. Average WTP was approximately 0.19 million yen (1,650 USD) and 0.29 million yen (2,520 USD) for respondents with positive PI. Using regression analysis, we also analyze the determinants of PI and WTP, such as the subjective merits and demerits of FAV as well as other household and city characteristics.
AB - Automated driving technology is one of the most important applications of advanced artificial intelligence technology, which is being extensively incorporated into transportation worldwide. Policy makers expect the introduction of fully automated vehicles (FAV) to significantly reduce the number of accidents that are due to human error and road congestion. Using originally collected large-sample survey data from 2015, this paper evaluates current consumer demand in terms of purchase intention (PI) and willingness to pay (WTP) for FAV in Japan. On average, consumers expect FAV to be available for purchase in approximately 13 years, and 47% of respondents report positive PI. Average WTP was approximately 0.19 million yen (1,650 USD) and 0.29 million yen (2,520 USD) for respondents with positive PI. Using regression analysis, we also analyze the determinants of PI and WTP, such as the subjective merits and demerits of FAV as well as other household and city characteristics.
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U2 - 10.1016/j.eap.2018.10.002
DO - 10.1016/j.eap.2018.10.002
M3 - Article
AN - SCOPUS:85057447387
SN - 0313-5926
VL - 61
SP - 16
EP - 28
JO - Economic Analysis and Policy
JF - Economic Analysis and Policy
ER -
