Value of Travel Time Estimation for PANYNJ and New Jersey Turnpike Facilities

This paper investigates Value of travel time (VOTT) of commuters traveling on PANYNJ toll facilities in the presence of time-of-day pricing. The methodology proposed to estimate VOTT develops Bayesian random-coefficient multinomial logit models (BRC-MNL) using travel surveys conducted as a part of (3). The proposed approach is a novel way used to examine the commuters’ behavior based on more flexible model specifications. Empirical results show that travel time, toll, income, and departure time are statistically significant parameters affecting VOTT of PANYNJ toll facility commuters. Mean VOTT estimates are found to be around 16.5$/hr for E-ZPass peak users, and around 15.15$/hr for E-ZPass off-peak users, with standard deviation estimates close to 6.45 $/hr during peak periods and 5.72 $/hr during off-peak hours. When compared with NJTPK commuters, the estimation results show a similar behavior.

Language

  • English

Media Info

  • Media Type: CD-ROM
  • Features: Figures; References; Tables;
  • Pagination: 12p
  • Monograph Title: ITS Connections: Saving Time. Saving Lives

Subject/Index Terms

Filing Info

  • Accession Number: 01146203
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Dec 1 2009 12:23PM