Willingness to pay for autonomous vehicles in China based on SEM-Logit model

Abstract

Autonomous vehicles (AVs) are expected to be a new way of traveling in the future. The future popularity of AVs has a lot to do with people’s attitudes towards them. This study aims to investigate people’s willingness to pay for AVs, providing practical insights into the value of AVs in the market. Through the analysis of 1,543 questionnaires collects in China, we finds that the willingness to pay for AVs is significantly affected by psychological factors (perceived benefit, perceived safety and trust), demographic determinants (e.g., gender, age, education, income and daily travel time) and road conditions (bike lane). People who are male, younger, more educated and have higher-income are more willing to spend more money on AVs. Our study could provide recommendations for AV developers and policymakers to further promote AVs.