VALUE OF TIME FOR COMMUTING MOTORISTS

THE VALUE OF TRAVEL-TIME SAVINGS FOR COMMUTING MOTORISTS IS ESTIMATED FROM THE BEHAVIOR OF MOTORISTS IN EIGHT AREAS OF THE COUNTRY WHO FACED A CHOICE BETWEEN A TOLL ROAD AND A FREE ROAD IN THEIR TRIPS TO AND FROM WORK. THE VALUE OF TRAVEL TIME IS CALCULATED FROM THE ESTIMATED COEFFICIENTS OF TOLL AND TRAVEL-TIME VARIABLES IN ROUTE-CHOICE MODELS FOR THESE MOTORISTS. THE ROUTE-CHOICE MODELS ARE NONLINEAR AND ESTIMATED BY LEAST SQUARES TECHNIQUES. DATA ON THE CHARACTERISTICS OF THE ALTERNATE ROUTES WERE COLLECTED BY BOTH MOTORIST INTERVIEWS AND TEST-VEHICLE MEASUREMENTS, AND EACH WAS USED TO ESTIMATE INDEPENDENTLY THE VALUE OF TRAVEL TIME. THIS STUDY RECOMMENDS THE USE OF $2.82 PER PERSON PER HOUR AS THE VALUE OF TRAVEL-TIME SAVINGS FOR COMMUTER TRIPS OF MORE THAN TEN MINUTES AND MORE THAN FIVE MILES IN HIGHWAY ECONOMY STUDIES. WHILE THE MAIN OBJECTIVE OF THE STUDY WAS TO MEASURE THE VALUE OF TRAVEL TIME, THE SCOPE OF THE ANALYSIS INCLUDED STUDY OF A WIDE VARIETY OF POSSIBLE FACTORS AFFECTING ROUTE CHOICE--FOR EXAMPLE, MEASURES OF ROUTE CONGESTION OR SAFETY, FAMILY INCOME, AND SEX OF THE MOTORIST. IN ADDITION, SPECIAL ATTENTION IS GIVEN TO A CRITIQUE OF BOTH THE METHODOLOGY USED IN ESTIMATING THE VALUE OF TRAVEL TIME AND THE USE OF THE ESTIMATES IN HIGHWAY ECONOMY STUDIES. /AUTHOR/

Media Info

  • Media Type: Print
  • Features: Figures; References; Tables;
  • Pagination: pp 17-35
  • Monograph Title: Economic factors influencing engineering decisions
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00201594
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Jan 31 1994 12:00AM