 On the value of highway travel time information systemsFrancesc Soriguera Transportation Research Part A: Policy and Practice, 2014, vol. 70, issue C, 294-310 Abstract: After the widespread deployment of Advanced Traveler Information Systems, there exists an increasing concern about their profitability. The costs of such systems are clear, but the quantification of the benefits still generates debate. This paper analyzes the value of highway travel time information systems. This is achieved by modeling the departure time selection and route choice with and without the guidance of an information system. The behavioral model supporting these choices is grounded on the expected utility theory, where drivers try to maximize the expected value of their perceived utility. The value of information is derived from the reduction of the unreliability costs as a consequence of the wiser decisions made with information. This includes the reduction of travel times, scheduling costs and stress. This modeling approach allows assessing the effects of the precision of the information system in the value of the information. Keywords: Departure time selection; Route choice; Unreliability costs; Travel time uncertainty (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:transa:v:70:y:2014:i:c:p:294-310 Ordering information: This journal article can be ordered from DOI: 10.1016/j.tra.2014.10.005 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 |
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