In the evaluation of transportation infrastructure projects, some non-tradable goods such as time are usually key determinants of the result. However, obtaining monetary values for these goods is not always easy. This paper introduces a novel approach based on the combination of bayesian...

Fragility of regression analysis to arbitrary assumptions and decisions about choice of control variables is an important concern for applied econometricians (e.g. Leamer (1983)). Sensitivity analysis in the form of model averaging represents an (agnostic) approach that formally addresses this...