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The marginal social cost of headway for a scheduled service

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  • Fosgerau, Mogens

Abstract

This brief paper derives the marginal social cost of headway for a scheduled service, i.e. the cost for users of marginal increases to the time interval between departures. In brief we may call it the value of headway in analogy with the value of travel time and the value of reliability. Users have waiting time costs as well as schedule delay costs measured relative to their desired time of arrival at the destination. They may either arrive at the station to choose just the next departure or they may plan for a specific departure in which case they incur also a planning cost. Then planning for a specific departure is costly but becomes more attractive at longer headways. Simple expressions for the user cost result. In particular, the marginal cost of headway is large at short headways and smaller at long headways. The difference in marginal costs is the value of time multiplied by half the headway.

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Bibliographic Info

Article provided by Elsevier in its journal Transportation Research Part B: Methodological.

Volume (Year): 43 (2009)
Issue (Month): 8-9 (September)
Pages: 813-820

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Handle: RePEc:eee:transb:v:43:y:2009:i:8-9:p:813-820

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Keywords: Value of travel time Headway Frequency Public transport;

References

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  1. de Palma, André & Lindsey, Robin, 2001. "Optimal timetables for public transportation," Transportation Research Part B: Methodological, Elsevier, vol. 35(8), pages 789-813, September.
  2. Fosgerau, Mogens & Karlström, Anders, 2007. "The value of reliability," MPRA Paper 5733, University Library of Munich, Germany.
  3. Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-79, June.
  4. Mohring, Herbert, 1972. "Optimization and Scale Economies in Urban Bus Transportation," American Economic Review, American Economic Association, vol. 62(4), pages 591-604, September.
  5. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  6. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1993. "A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand," American Economic Review, American Economic Association, vol. 83(1), pages 161-79, March.
  7. Panzar, John C, 1979. "Equilibrium and Welfare in Unregulated Airline Markets," American Economic Review, American Economic Association, vol. 69(2), pages 92-95, May.
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Citations

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Cited by:
  1. Piet Rietveld, 2010. "The Economics of Information in Transport," Tinbergen Institute Discussion Papers 10-110/3, Tinbergen Institute.
  2. DE BORGER, Bruno & FOSGERAU, Mogens, 2011. "Information provision by regulated public transport companies," Working Papers 2011012, University of Antwerp, Faculty of Applied Economics.
  3. Benezech, Vincent & Coulombel, Nicolas, 2013. "The value of service reliability," Transportation Research Part B: Methodological, Elsevier, vol. 58(C), pages 1-15.
  4. André De Palma & Mogens Fosgerau, 2010. "Dynamic and Static congestion models: A review," Working Papers hal-00539166, HAL.
  5. Vincent Benezech & Nicolas Coulombel, 2013. "The value of service reliability," Post-Print hal-00925940, HAL.
  6. Yin-Yen Tseng & Piet Rietveld & Erik Verhoef, 2012. "Unreliable trains and induced rescheduling: implications for cost-benefit analysis," Transportation, Springer, vol. 39(2), pages 387-407, March.
  7. Fosgerau, Mogens & Engelson, Leonid, 2010. "The value of travel time variance," MPRA Paper 42272, University Library of Munich, Germany.

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