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Given many known and unknown uncertainties, it is hard to forecast reliably the mode choices, expected to prevail with autonomous vehicle (AV) technology; however, the key to getting some idea lies in understanding the preferences of end users. In this vein, a random parameters logit model is employed to study the consumers’ preferences in small- and medium-sized metropolitan areas, based on their travel behavior and household characteristics, socio-demographic features, awareness about AV technology and new travel choices, psychological factors, and built environment features. Most of the past studies hypothesize that due to a wide range of anticipated benefits, there would be increased use of AVs especially as a shared service where multiple travelers use the same AV concomitantly. However, the results from this study do not support the hypothesis that vehicle ownership will be an obsolete model at …