MAIN SOURCES OF DATA FOR VALUE OF TIME ESTIMATION

The estimation of values of time (VOTs) requires estimation based on some form of behavioural (demand) model having a trade-off between time and cost attributes at least. This paper examines some features of the main sources of data traditionally used to derive VOTs. It describes two important approaches to VOT estimation, and discusses their advantages and disadvantages in relation to model estimation. The Revealed Preference (RP) method is the most traditional approach, and is still the method used most often in travel demand modelling. To ensure a representative sample with it, it is necessary to consider at least sample size, sampling method, survey type, questionnaire design, and data correction, weighting, and validation. Some relevant problems and issues are mentioned, for some of which the Stated Preference (SP) method may provide a reasonable solution. An SP experiment constructs a set of hypothetical but realistic options to be presented to the respondents, and usually uses experimental designs to construct these options. It is crucial to present the options and their attributes in terms like those perceived by those interviewed. The three main ways of collecting SP data use ranking in preference order, rating on a scale, or choice of option. Sampling strategy and fieldwork procedures need to be resolved. For the covering abstract, see IRRD E100587.

• Corporate Authors:

  PTRC Education and Research Services Limited

  Glenthorne House, Hammersmith Grove
  London W6OL9,   England 
• Authors:
  • ORTUZAR, JDED
• Conference:
  • Proceedings of the Value of Time seminar, held 29-30 October 1996. Session 12
• Publication Date: 1996

Language

• English

Media Info

• Features: References;
• Pagination: 9 p.

Subject/Index Terms

• TRT Terms: Conferences; Costs; Data collection; Demand; Design; Economic factors; Economics; Forecasting; Interviewing; Mathematical models; Methodology; Statistical sampling; Tests; Time; Transportation; Value engineering
• ITRD Terms: 8525: Conference; 224: Cost; 8623: Data acquisition; 285: Demand (econ); 9011: Design (overall design); 263: Economics of transport; 132: Forecast; 9147: Interview; 6473: Mathematical model; 9102: Method; 6553: Sample (stat); 6255: Test; 5414: Time; 248: Value analysis
• Subject Areas: Design; Economics; Transportation (General);

Filing Info

• Accession Number: 00764339
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• Files: ITRD
• Created Date: May 28 1999 12:00AM