הזמנה לסמינר המחלקתי בתאריך 15.01.17
עודכן ב 12/01/2017 - 14:26
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The impact of Fear of Flying and the Role of Safety Information on Travelers’ Flight Choice: Choice Model with Latent Variables
Aliza Fleischer1, Anat Tchetchik2, Tomer Toledo3
1 Department of Environmental Economics and Management, Hebrew University of Jerusalem
2 Department of Business Administration, Ben Gurion University of the Negev
3 Faculty of Civil and Environmental Engineering, Technion – Israel Institute of Technology
Flying is an inevitable part of life in our era of globalized economy. However, since airline safety levels are difficult to assess, flying entails choice under information asymmetry that involves dread risk and emotional factors such as fear of flying (FOF). Yet, the role of FOF on travelers’ decision-making has not been explicitly addressed. Based on a stated preference experiment and accounting specifically for FOF as a latent variable, we show that passengers who suffer FOF employ several itinerary attributes as means of alleviating their perceived risk and fear level. These attributes include home carriers, scheduled carriers, and nonstop flights. These results lend support for some scholars’ arguments that the public sector should establish and release flight safety indicators in addition to accidents’ statistics, which are currently available. It was also argued that such safety indicators will enable airlines to diversify their safety offerings. Underlying this argument is the assumption that consumers’ flight safety preferences vary and that, provided with safety information, consumers will use it when making decisions. We next experiment how the releasing of information on safety levels affects consumer choice. Employing an advanced experimental design and econometric approach, we investigate whether and how consumers react to and interpret safety information when choosing a flight, while accounting explicitly for FOF. We find that: 1. when formal flight safety ratings are supplied, individuals abandoned their priors and rely on the information provided 2. When it comes to “bad death” probabilities, people are not sensitive to the different shades of safety, and instead, they simply discern flights as either safe or unsafe. 3. Under a certain conditions disclosed information can alleviated fear and change the decision making of airline passengers.
הסמינר ייערך ביום א', י"ז בטבת תשע"ז (15.01.2017), בשעה 14:00, בבניין 102 כיתה 1.
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