Estimating the Costs of New Mobility Travel Options: Monetary and Non-Monetary Factors
Junia Compostella and
Institute of Transportation Studies, Working Paper Series from Institute of Transportation Studies, UC Davis
UC Davis researchers have developed a cost model of travel choices that individuals make related to urban vehicle travel. These choices can include deciding to own, ride in, and drive a private vehicle or use pooled or solo ridesourcing (e.g., Uber). The model considers both monetary and non-monetary factors that affect travel choice. Monetary factors include the costs of purchasing, maintaining, and fueling different types of privately owned vehicles; and the cost of using ridesourcing services. Non-monetary (or “hedonic”) factors include travel time, parking time/inconvenience, willingness to drive or be a passenger in a driven or automated vehicle, and willingness to travel with strangers. The travel choices affected by these factors impact broader society through traffic congestion, pollution, greenhouse gas emissions, accidents, etc. and thus may be an important focus of policy. This report reviews recent literature, considers factors affecting travel choices, and reports, on a conjoint pilot survey or stated preferences. Finally, it considers approaches to apply time value to factors that are not typically associated with specific trips, such as time spent on vehicle maintenance and parking. The results should enable a deeper understanding of the likelihood that individuals will own and use private vehicles or use shared (solo and pooled) ridesourcing, and how automated vehicle services could affect these choices in the future. The study also highlights additional research needs, such as a large scale stated preference study covering more factors than have been included in previous studies. View the NCST Project Webpage
Keywords: Social and Behavioral Sciences; Cost estimating; Mobility; Mode choice; Ridesourcing; Surveys; Travel behavior; Travel costs; Value of time (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-reg, nep-tre and nep-ure
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