Abstract
This study aims to address trade-off effects among fares and fences by using sampling data from an intercity bus corporation. We first regard departure time, booking time, pay time, percentage of refund, and prices as major attributes that passengers bare in minds while making their ticket choices. 400 stated-preference questionnaires are distributed on bus while passengers are having their trips. We utilize mixed logit model to verify the importance of the proposed five attributes. The results show that all variables except pay time are significant at 95% confidence level. We further calculate willingness-to-pay of attributes to reveal their monetary value. Departing during peak hours is the first priority for passengers while buying tickets following by advanced booking and percentage of refund. For the managerial application, this study suggests a demand-oriented fare table considering three fences and generating eight different classes of tickets.
