IDEAS home Printed from https://ideas.repec.org/a/sae/toueco/v2y1996i4p353-368.html
   My bibliography  Save this article

The Value of Travel Time: An Empirical Study Using Repeated Samples of Non-Business Trips

Author

Listed:
  • Per Johansson

    (Department of Economics, Umeå University, S-90187 Umeå, Sweden)

  • Reza Mortazavi

    (Centre for Research on Transportation and Society, Dalarna University, S-78188 Borlänge, Sweden)

Abstract

This paper deals with the estimation of travel time values for non-business inter-city passengers. Estimates are based on repeated survey data. A random coefficient probit model, which allows for individual heterogeneity, is shown to be slightly more successful with respect to prediction than an independent probit model, which is why the former is employed in calculation of time values. The sample is split into vacation and non-vacation periods, which can be seen as proxies for the length of the vacation. A considerable difference in time values is found in the two periods. Hence, when estimating the time values, in both stated and revealed preference studies for various transportation projects, it is important to consider the length of the vacation.

Suggested Citation

  • Per Johansson & Reza Mortazavi, 1996. "The Value of Travel Time: An Empirical Study Using Repeated Samples of Non-Business Trips," Tourism Economics, , vol. 2(4), pages 353-368, December.
    • Handle: RePEc:sae:toueco:v:2:y:1996:i:4:p:353-368
    DOI: 10.1177/135481669600200405
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/135481669600200405
    Download Restriction: no
    File URL: https://libkey.io/10.1177/135481669600200405?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Coenen, Mieke & van Eekeren, Lobke, 2001. "Demand for domestic tourism by Swedish households," Umeå Economic Studies 578, Umeå University, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:toueco:v:2:y:1996:i:4:p:353-368. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.