The value of headway for a scheduled service
AbstractThis brief paper derives the value of headway, i.e. the time interval between departures, for a scheduled service. It presents a consistent framework in which users have scheduling costs, time costs and planning costs. The model represents both users who arrive at the station to choose just the next departure and users who plan for a specific departure. 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 InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 11995.
Date of creation: 2008
Date of revision:
Time; Scheduling; Public transport; Aviation;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion
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- Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-79, June.
- 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.
- Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
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