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The value of travel time and reliability-evidence from a stated preference survey and actual usage

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  • Devarasetty, Prem Chand
  • Burris, Mark
  • Douglass Shaw, W.

Abstract

This research examined travel behavior of Managed Lane (ML) users to better understand the value travelers place on travel time savings and travel time reliability. We also highlight the importance of survey design techniques. These objectives were accomplished through a stated preference survey of Houston’s Katy Freeway travelers. Three stated choice experiment survey design techniques were tested in this study: Bayesian (Db) efficient, random level attribute generation, and an adaptive random approach. Mixed logit models were developed from responses using each of those designs. The value of travel time savings (VTTSs) estimates do vary across the design strategies, with the VTTS estimates based on the Db-efficient design being approximately half the estimates from the other two designs. However, among the three design strategies, the value of travel time reliability (VOR) was only significant in the Db-efficient design.

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Bibliographic Info

Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

Volume (Year): 46 (2012)
Issue (Month): 8 ()
Pages: 1227-1240

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Handle: RePEc:eee:transa:v:46:y:2012:i:8:p:1227-1240

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Related research

Keywords: Managed lanes; Stated preference survey; Survey design; Value of travel time savings; Value of travel time reliability;

References

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  1. Bhat, Chandra R., 2001. "Quasi-random maximum simulated likelihood estimation of the mixed multinomial logit model," Transportation Research Part B: Methodological, Elsevier, vol. 35(7), pages 677-693, August.
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  9. Ferrini, Silvia & Scarpa, Riccardo, 2007. "Designs with a priori information for nonmarket valuation with choice experiments: A Monte Carlo study," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 342-363, May.
  10. Patil, Sunil & Burris, Mark & Douglass Shaw, W., 2011. "Travel using managed lanes: An application of a stated choice model for Houston, Texas," Transport Policy, Elsevier, vol. 18(4), pages 595-603, August.
  11. Greene, William H. & Hensher, David A., 2007. "Heteroscedastic control for random coefficients and error components in mixed logit," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(5), pages 610-623, September.
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  13. John M. Rose & Riccardo Scarpa, 2007. "Designs Efficiency for Non-market Valuation with Choice Modelling: How to Measure It, What to Report and Why," Working Papers in Economics 07/21, University of Waikato, Department of Economics.
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