Travel time reliability benefits: Allowing for correlation

Alan Nicholson

Research in Transportation Economics, 2015, vol. 49, issue C, 14-21

Abstract: The economies in developed countries depend heavily on their transport systems. That dependence has increased with the adoption of ‘just-in-time’ production methods, which involve reducing the costs associated with holding goods in stock and relying on required goods being delivered promptly once ordered. This has meant an increased emphasis on the reliability of the service and increased efforts to mitigate the impacts of disruption of road transport networks, and has led to changes in reliability being included within economic appraisals of road network improvement projects that are expected to result in an improvement in reliability.

Keywords: Travel time; Reliability; Estimation; Benefits; Correlation (search for similar items in EconPapers)
JEL-codes: R42 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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DOI: 10.1016/j.retrec.2015.04.002

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