VALUING TIME AND RELIABILITY: ASSESSING THE EVIDENCE FROM ROAD PRICING DEMONSTRATIONS
Two recent road pricing demonstrations in southern California provided opportunities for measuring commuters' values of time and reliability. This paper compares results from evaluations of these demonstration projects. Unlike most revealed preference studies of value of time, the choice to pay to use the toll facilities in these demonstrations is relatively independent from other travel choices such as whether to use public transit. Unlike most stated preference studies, the scenarios presented in these surveys are real ones that travelers have faced or know about from media coverage. By combining revealed and stated preference data, some of the studies have obtained enough independent variation in variables to disentangle effects of cost, time and reliability, while still grounding the results in real behavior. Both sets of studies find that the value of time saved on the morning commute is between $20 and $40 per hour when based on revealed behavior, and less than half that amount when based on hypothetical behavior. These results suggest that using stated preference data in computing benefits from travel time savings will undervalue projects whose purpose is to reduce congested travel time. These studies also indicate that reliability is also valued quite highly, and further advances in studying reliability should be a top research priority.
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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/issn/09658564
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Corporate Authors:
The Boulevard, Langford Lane
Kidlington, Oxford United Kingdom OX5 1GB -
Authors:
- Brownstone, D
- Small, K A
- Publication Date: 2005-5
Language
- English
Media Info
- Features: References; Tables;
- Pagination: p. 279-293
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Serial:
- Transportation Research Part A: Policy and Practice
- Volume: 39
- Issue Number: 4
- Publisher: Elsevier
- ISSN: 0965-8564
- Serial URL: http://www.sciencedirect.com/science/journal/09658564
Subject/Index Terms
- TRT Terms: Commuters; Demonstration projects; Revealed preferences; Road pricing; Stated preferences; Toll roads; Travel costs; Travel time; Value of time
- Uncontrolled Terms: Value of reliability
- Geographic Terms: Southern California
- Subject Areas: Economics; Highways; Passenger Transportation; Planning and Forecasting; Society; I72: Traffic and Transport Planning;
Filing Info
- Accession Number: 00989119
- Record Type: Publication
- Files: TRIS, ATRI
- Created Date: Apr 27 2005 12:00AM