Measurements and properties of the values of time and reliability

Mickael Beaud, Thierry Blayac and Maïté Stéphan

Working Papers from LAMETA, Universtiy of Montpellier

Abstract: This paper derives new monetary measures of traveler’s willingness to pay to save travel time and to improve its reliability. We develop an intuitive model of transport mode choice in which each alternative is fully characterized by its price and the distribution of its random travel time, assuming expected utility preferences over the latter. Hence, the value of time (VOT) and the value of reliability (VOR) are defined and theirs properties are established. Finally, we use data from a discrete choice experiment in stated preferences to illustrate how our measures can provide behavioral estimations of the VOT and the VOR.

Pages: 34 pages
Date: 2014-07, Revised 2014-07
New Economics Papers: this item is included in nep-dcm, nep-tre and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.lameta.univ-montp1.fr/Documents/DR2014-06.pdf Revised version, 2014 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.lameta.univ-montp1.fr:80 (No such host is known. )

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lam:wpaper:14-06

Access Statistics for this paper

More papers in Working Papers from LAMETA, Universtiy of Montpellier Contact information at EDIRC.
Bibliographic data for series maintained by Patricia Modat ( this e-mail address is bad, please contact ).