ROUTE CHOICE AND THE VALUE OF COMMUTING TIME: AN ECONOMIC MODEL OF DICHOTOMOUS CHOICE

This paper presents an economic model of generalized travel cost and provides an empirical study of the parameters of the cost function. The route-choice model that is estimated combines McFadden's theory of qualitative choice behavior with a function for the value of travel time in which total trip time and the income level are assumed to influence the marginal value of time. The empirical results indicate that, for a sample of commuters in the Chicago metropolitan area in 1972, the value of time is a positive function of total trip time, but is not a function of income. (Author/TRRL)

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/01912615
• Corporate Authors:

  Pergamon Press, Incorporated

  Headington Hill Hall
  Oxford OX30BW,    
• Authors:
  • MCDONALD, J F
• Publication Date: 1983-12

Media Info

• Features: References; Tables;
• Pagination: p. 463-470
• Serial:
  • Transportation Research Part B: Methodological
  • Volume: 17B
  • Issue Number: 6
  • Publisher: Elsevier
  • ISSN: 0191-2615
  • Serial URL: http://www.sciencedirect.com/science/journal/01912615

Subject/Index Terms

• TRT Terms: Commuting; Costs; Income; Itinerary; Mathematical models; Route choice; Socioeconomic factors; Travel; Travel budgets; Travel costs; Travel time; Trip length; Urban areas
• Uncontrolled Terms: Selection
• Geographic Terms: Chicago (Illinois); United States
• ITRD Terms: 224: Cost; 256: Income; 699: Itinerary; 698: Journey; 697: Journey time; 6473: Mathematical model; 9072: Selection; 313: Urban area; 8122: USA
• Subject Areas: Economics; Finance; Highways; Operations and Traffic Management; Public Transportation; Society; I71: Traffic Theory;

Filing Info

• Accession Number: 00382794
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• Report/Paper Numbers: HS-036 482
• Files: ITRD, TRIS
• Created Date: Apr 30 1984 12:00AM