Income and distance elasticities of values of travel time savings: New Swiss results
AbstractThis paper presents the findings of a study looking into the valuation of travel time savings (VTTS) in Switzerland, across modes as well as across purpose groups. The study makes several departures from the usual practice in VTTS studies, with the main one being a direct representation of the income and distance elasticity of the VTTS measures. Here, important gains in model performance and significantly different results are obtained through this approach. Additionally, the analysis shows that the estimation of robust coefficients for congested car travel time is hampered by the low share of congested time in the overall travel time, and the use of an additional rate-of-congestion coefficient, in addition to a generic car travel time coefficient, is preferable. Finally, the analysis demonstrates that the population mean of the indicators calculated is quite different from the sample means and presents methods to calculate those, along with the associated variances. These variances are of great interest as they allow the generation of confidence intervals, which can be extremely useful in cost-benefit analyses.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Elsevier in its journal Transport Policy.
Volume (Year): 15 (2008)
Issue (Month): 3 (May)
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/30473/description#description
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jovicic, Goran & Hansen, Christian Overgaard, 2003. "A passenger travel demand model for Copenhagen," Transportation Research Part A: Policy and Practice, Elsevier, vol. 37(4), pages 333-349, May.
- Menghini, G. & Carrasco, N. & Schüssler, N. & Axhausen, K.W., 2010. "Route choice of cyclists in Zurich," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(9), pages 754-765, November.
- Hjorth, Katrine & Fosgerau, Mogens, 2012.
"Using prospect theory to investigate the low marginal value of travel time for small time changes,"
42246, University Library of Munich, Germany.
- Hjorth, Katrine & Fosgerau, Mogens, 2012. "Using prospect theory to investigate the low marginal value of travel time for small time changes," Transportation Research Part B: Methodological, Elsevier, vol. 46(8), pages 917-932.
- Abrantes, Pedro A.L. & Wardman, Mark R., 2011. "Meta-analysis of UK values of travel time: An update," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(1), pages 1-17, January.
If references are entirely missing, you can add them using this form.