Scheduling preferences and the value of travel time information

Leonid Engelson and Mogens Fosgerau

Transportation Research Part B: Methodological, 2020, vol. 134, issue C, 256-265

Abstract: In this paper, we derive the value of a signal obtained by a traveller prior to the choice of departure time. The signal does not have to be a perfect prediction of the travel time. It is sufficient that it carries information about the travel time. The traveller may then consider the distribution of travel time conditional on the signal to increase her expected utility by making a better informed choice of departure time.

Keywords: Travel time; Risk; Uncertainty; Information; Scheduling; Reliability (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (9)

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DOI: 10.1016/j.trb.2020.02.010

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