Willingness to pay for travel time reliability in passenger transport: A review and some new empirical evidence
David Hensher () and
John Rose ()
Transportation Research Part E: Logistics and Transportation Review, 2010, vol. 46, issue 3, 384-403
This paper reviews and critiques the modelling frameworks and empirical measurement paradigms used to obtain willingness to pay (WTP) for improved travel time reliability, suggesting new directions for ongoing research. We also estimate models to derive values of reliability, scheduling costs and reliability ratios in the context of Australian toll roads and use the new evidence to highlight the important influence of the way that trip time variability is included in stated preference studies in deriving WTP estimates of reliability in absolute terms, and relative to the value of travel time savings.
Keywords: Travel; time; reliability; Passenger; transport; Value; of; travel; time; savings; Value; of; reliability; Schedule; delay (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:transe:v:46:y:2010:i:3:p:384-403
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