Income and Distance Elasticities of Values of Travel Time Savings: New Swiss Results

This paper presents the findings of a study looking into the valuation of travel time savings (VTTS) in Switzerland, across modes as well as across purpose groups. The study makes several departures from the usual practice in VTTS studies, with the main one being a direct representation of the income and distance elasticity of the VTTS measures. Here, important gains in model performance and significantly different results are obtained through this approach. Additionally, the analysis shows that the estimation of robust coefficients for congested car travel time is hampered by the low share of congested time in the overall travel time, and the use of an additional rate-of-congestion coefficient, in addition to a generic car travel time coefficient, is preferable. Finally, the analysis demonstrates that the population mean of the indicators calculated is quite different from the sample means and presents methods to calculate those, along with the associated variances. These variances are of great interest as they allow the generation of confidence intervals, which can be extremely useful in cost-benefit analyses.

• Corporate Authors:

  World Conference on Transport Research Society

  Secretariat, 14 Avenue Berthelot
  69363 Lyon cedex 07,   France 
• Authors:
  • Axhausen, Kay W
  • Hess, Stephane
  • Konig, Arnd
  • Abay, Georg
  • Bates, John J
  • Bierlairek, Michel
• Conference:
  • 11th World Conference on Transport Research
  • Location: Berkeley CA, United States
  • Date: 2007-6-24 to 2007-6-28
• Publication Date: 2007

Language

• English

Media Info

• Media Type: CD-ROM
• Features: Figures; References; Tables;
• Pagination: 24p
• Monograph Title: 11th World Conference on Transport Research

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Choice models; Distance; Elasticity (Economics); Income; Mode choice; Route choice; Stated preferences; Value of time
• Geographic Terms: Switzerland
• Subject Areas: Economics; Highways; Public Transportation; Society; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 01122085
• Record Type: Publication
• Files: TRIS
• Created Date: Feb 19 2009 2:42PM