The value of travel time and reliability-evidence from a stated preference survey and actual usage

Prem Chand Devarasetty, Mark Burris and W. Shaw

Transportation Research Part A: Policy and Practice, 2012, vol. 46, issue 8, 1227-1240

Abstract: This research examined travel behavior of Managed Lane (ML) users to better understand the value travelers place on travel time savings and travel time reliability. We also highlight the importance of survey design techniques. These objectives were accomplished through a stated preference survey of Houston’s Katy Freeway travelers. Three stated choice experiment survey design techniques were tested in this study: Bayesian (Db) efficient, random level attribute generation, and an adaptive random approach. Mixed logit models were developed from responses using each of those designs. The value of travel time savings (VTTSs) estimates do vary across the design strategies, with the VTTS estimates based on the Db-efficient design being approximately half the estimates from the other two designs. However, among the three design strategies, the value of travel time reliability (VOR) was only significant in the Db-efficient design.

Keywords: Managed lanes; Stated preference survey; Survey design; Value of travel time savings; Value of travel time reliability (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0965856412000778
Full text for ScienceDirect subscribers only

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:eee:transa:v:46:y:2012:i:8:p:1227-1240

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

DOI: 10.1016/j.tra.2012.05.002

Access Statistics for this article

Transportation Research Part A: Policy and Practice is currently edited by John (J.M.) Rose

More articles in Transportation Research Part A: Policy and Practice from Elsevier
Bibliographic data for series maintained by Catherine Liu ().