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Freight Transport and the Value of Travel Time Savings: A Meta‐analysis of Empirical Studies

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  • Luca Zamparini
  • Aura Reggiani

Abstract

The value of travel time savings (VTTS) has been investigated by transport economists since the mid‐1960s. Although the first two decades of research were mainly devoted to VTTS in passenger transport, since the mid‐1980s several studies have analysed the VTTS in freight transport from both a theoretical and an empirical viewpoint. The first part of the paper is devoted to a review of the proposed theoretical models for the value of freight travel time savings (VFTTS), and it discusses the issues arising from the use of different methods to collect empirical VFTTS estimates. The second part is based on a meta‐analysis of a sample of empirical VFTTS observations related to several European and North American countries. It is shown that both the per‐capita gross domestic product and the transport mode are statistically significant variables that can partially explain the variability in VFTTS estimates.

Suggested Citation

  • Luca Zamparini & Aura Reggiani, 2007. "Freight Transport and the Value of Travel Time Savings: A Meta‐analysis of Empirical Studies," Transport Reviews, Taylor & Francis Journals, vol. 27(5), pages 621-636, March.
    • Handle: RePEc:taf:transr:v:27:y:2007:i:5:p:621-636
    DOI: 10.1080/01441640701322834
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    References listed on IDEAS

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    1. Kawamura, Kazuya, 1999. "Commercial Vehicle Value of Time and Perceived Benefit of Congestion Pricing," University of California Transportation Center, Working Papers qt4pz727p6, University of California Transportation Center.
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    Cited by:

    1. Boris Goenaga & Victor Cantillo, 2020. "Willingness to pay for freight travel time savings: contrasting random utility versus random valuation," Transportation, Springer, vol. 47(2), pages 705-736, April.
    2. Shires, J.D. & de Jong, G.C., 2009. "An international meta-analysis of values of travel time savings," Evaluation and Program Planning, Elsevier, vol. 32(4), pages 315-325, November.
    3. Evangelos Sambracos & Irene Ramfou, 2014. "The Effect of Freight Transport Time Changes on The Performance of Manufacturing Companies," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 119-138.
    4. Iwasaki, Fusanori & Ueki, Yasushi, 2022. "From buyer-driven fragmented to consumer-driven vertically integrated value chains: a case study of Japanese apparel and accessory SMEs," IDE Discussion Papers 838, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    5. Yu, Haowei & Zhou, You, 2021. "Highway Spending and Induced Vehicle Emissions: Evidence from the US states," Resource and Energy Economics, Elsevier, vol. 65(C).
    6. Masiero, Lorenzo & Maggi, Rico, 2012. "Estimation of indirect cost and evaluation of protective measures for infrastructure vulnerability: A case study on the transalpine transport corridor," Transport Policy, Elsevier, vol. 20(C), pages 13-21.
    7. Bergantino, Angela S. & Bierlaire, Michel & Catalano, Mario & Migliore, Marco & Amoroso, Salvatore, 2013. "Taste heterogeneity and latent preferences in the choice behaviour of freight transport operators," Transport Policy, Elsevier, vol. 30(C), pages 77-91.
    8. Duan, Liwei & Tavasszy, Lorant A. & Rezaei, Jafar, 2019. "Freight service network design with heterogeneous preferences for transport time and reliability," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 124(C), pages 1-12.
    9. Kim, T.Y. & Dekker, R. & Heij, C., 2016. "The value of express delivery services for cross-border e-commerce in European Union markets," Econometric Institute Research Papers EI2016-12, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    10. Carrion, Carlos & Levinson, David, 2012. "Value of travel time reliability: A review of current evidence," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(4), pages 720-741.
    11. Phill Wheat & Alexander D. Stead & Yue Huang & Andrew Smith, 2019. "Lowering Transport Costs and Prices by Competition: Regulatory and Institutional Reforms in Low Income Countries," Sustainability, MDPI, vol. 11(21), pages 1-19, October.
    12. Massiani, Jérôme, 2014. "A micro founded approach to the valuation of benefits of freight travel time savings," Research in Transportation Economics, Elsevier, vol. 47(C), pages 61-69.
    13. Edoardo Marcucci, 2013. "Logistics Managers' Stated Preferences For Freight Service Attributes: A Comparative Research Method Analysis," Working Papers 0213, CREI Università degli Studi Roma Tre, revised 2013.
    14. Talebian, Ahmadreza & Zou, Bo, 2015. "Integrated modeling of high performance passenger and freight train planning on shared-use corridors in the US," Transportation Research Part B: Methodological, Elsevier, vol. 82(C), pages 114-140.
    15. Koopmans, Carl & Groot, Wim & Warffemius, Pim & Annema, Jan Anne & Hoogendoorn-Lanser, Sascha, 2013. "Measuring generalised transport costs as an indicator of accessibility changes over time," Transport Policy, Elsevier, vol. 29(C), pages 154-159.
    16. Sambracos, Evangelos & Ramfou, Irene, 2015. "Do freight transport time savings translate to benefit for transport consuming companies?," MPRA Paper 68558, University Library of Munich, Germany.
    17. Tao, Xuezong & Zhu, Lichao, 2020. "Meta-analysis of value of time in freight transportation: A comprehensive review based on discrete choice models," Transportation Research Part A: Policy and Practice, Elsevier, vol. 138(C), pages 213-233.
    18. Figliozzi, Miguel Andres & Zhang, Zeyan, 2009. "A Study of Transportation Disruption Causes and Costs in Containerized Maritime Transportation," 50th Annual Transportation Research Forum, Portland, Oregon, March 16-18, 2009 207815, Transportation Research Forum.
    19. Andersson, Matts & Berglund, Moa & Flodén, Jonas & Persson, Christer & Waidringer, Jonas, 2017. "A method for measuring and valuing transport time variability in logistics and cost benefit analysis," Research in Transportation Economics, Elsevier, vol. 66(C), pages 59-69.

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