Value of Travel Time Estimation Using Hierarchical Bayesian Mixed Logit Approach: Toll Facilities in New York and New Jersey

This paper investigates the value of travel time (VOTT) of commuters traveling on toll facilities of the Port Authority of New York and New Jersey (PANYNJ) and the New Jersey Turnpike (NJTPK) in a time-of-day pricing system. The methodology proposed to estimate VOTT develops hierarchical Bayesian mixed logit models using travel surveys conducted as part of evaluation studies of PANYNJ and NJTPK facilities. The proposed approach is a novel method for examining commuters’ behavior on the basis of flexible model specifications. Empirical results show that travel time, toll, income, and departure time are statistically significant parameters affecting VOTT of commuters on PANYNJ toll facilities. Mean VOTT estimates are found to be about $16.5/h for PANYNJ E-ZPass peak users and about $15.15/h for PANYNJ E-ZPass off-peak users, with standard deviation estimates close to $6.45/h during peak periods and $5.72/h during off-peak hours. Similarly, mean VOTT estimates are found to be around $16.3/h for NJTPK E-ZPass peak users and about $14.79/h for NJTPK E-ZPass off-peak users, with standard deviation estimates close to $5.48/h during peak periods and $4.56/h during off-peak hours.

• Record URL:
  https://doi.org/10.3141/2187-12
• Summary URL:
  http://scholar.google.com/scholar_lookup?title=Value+of+Travel+Time+Estimation+Using+Hierarchical+Bayesian+Mixed+Logit+Approach%3a+Toll+Facilities+in+New+York+and+New+Jersey&author=O.+Yanmaz-Tuzel&author=K.+Ozbay&author=J.+Holguin-Veras&publication_year=2010
• Availability:
  • Find a library where document is available. Order URL: http://www.trb.org/Main/Blurbs/Economics_Demand_Management_and_Parking_Policy_164863.aspx
• Authors:
  • Yanmaz-Tuzel, Ozlem
  • Ozbay, Kaan
  • Holguin-Veras, Jose
• Publication Date: 2010

Language

• English

Media Info

• Media Type: Print
• Features: Figures; References; Tables;
• Pagination: pp 85-96
• Monograph Title: Economics, Demand Management, and Parking Policy
• Serial:
  • Transportation Research Record: Journal of the Transportation Research Board
  • Issue Number: 2187
  • Publisher: Transportation Research Board
  • ISSN: 0361-1981

Subject/Index Terms

• TRT Terms: Commuters; Departure time; Income; Off peak periods; Peak periods; Toll facilities; Toll roads; Tolls; Transportation policy; Travel behavior; Travel surveys; Travel time; Value of time
• Identifier Terms: E-ZPass; New Jersey Turnpike; Port Authority of New York and New Jersey
• Uncontrolled Terms: Hierarchical Bayes methods; Mixed logit models
• Subject Areas: Highways; Planning and Forecasting; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 01154709
• Record Type: Publication
• ISBN: 9780309160605
• Report/Paper Numbers: 10-2820
• Files: TRIS, TRB, ATRI
• Created Date: Apr 14 2010 2:41PM