IDEAS home Printed from https://ideas.repec.org/a/eee/eejocm/v28y2018icp97-107.html
   My bibliography  Save this article

Value of travel time as a function of comfort

Author

Listed:
  • Kouwenhoven, Marco
  • de Jong, Gerard

Abstract

The value of travel time can theoretically be defined as the opportunity cost of travel minus the direct utility from spending the time during the trip. This paper searches for empirical evidence to support this formulation. We show that travellers who indicate that a shorter trip duration is useful or a longer trip duration is very inconvenient have a higher value of travel time. Furthermore, we show that people who can spend their travel time usefully have a lower value of travel time. Finally, the availability of a computer, laptop etc. during the trip increases the probability of travel time being useful. This study determines the sizes of these effects in a case study for The Netherlands. This is important since the value of travel time is likely to change over time. The outcomes of this paper can be used to estimate the size of the expected reduction in value of travel time as a result of future comfort improvements that increase the possibility to work, read a book, watch a movie and communicate during a trip.

Suggested Citation

  • Kouwenhoven, Marco & de Jong, Gerard, 2018. "Value of travel time as a function of comfort," Journal of choice modelling, Elsevier, vol. 28(C), pages 97-107.
    • Handle: RePEc:eee:eejocm:v:28:y:2018:i:c:p:97-107
    DOI: 10.1016/j.jocm.2018.04.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S175553451730101X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jocm.2018.04.002?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ben-Elia, Eran & Alexander, Bayarma & Hubers, Christa & Ettema, Dick, 2014. "Activity fragmentation, ICT and travel: An exploratory Path Analysis of spatiotemporal interrelationships," Transportation Research Part A: Policy and Practice, Elsevier, vol. 68(C), pages 56-74.
    2. Börjesson, Maria & Fosgerau, Mogens & Algers, Staffan, 2012. "On the income elasticity of the value of travel time," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(2), pages 368-377.
    3. Mark Wardman & Glenn Lyons, 2016. "The digital revolution and worthwhile use of travel time: implications for appraisal and forecasting," Transportation, Springer, vol. 43(3), pages 507-530, May.
    4. Lyons, Glenn & Jain, Juliet & Weir, Iain, 2016. "Changing times – A decade of empirical insight into the experience of rail passengers in Great Britain," Journal of Transport Geography, Elsevier, vol. 57(C), pages 94-104.
    5. Jain, Juliet & Lyons, Glenn, 2008. "The gift of travel time," Journal of Transport Geography, Elsevier, vol. 16(2), pages 81-89.
    6. Evans, Alan W, 1972. "On the Theory of the Valuation and Allocation of Time," Scottish Journal of Political Economy, Scottish Economic Society, vol. 19(1), pages 1-17, February.
    7. De Borger, Bruno & Fosgerau, Mogens, 2008. "The trade-off between money and travel time: A test of the theory of reference-dependent preferences," Journal of Urban Economics, Elsevier, vol. 64(1), pages 101-115, July.
    8. Börjesson, Maria & Eliasson, Jonas, 2014. "Experiences from the Swedish Value of Time study," Transportation Research Part A: Policy and Practice, Elsevier, vol. 59(C), pages 144-158.
    9. Kouwenhoven, Marco & de Jong, Gerard C. & Koster, Paul & van den Berg, Vincent A.C. & Verhoef, Erik T. & Bates, John & Warffemius, Pim M.J., 2014. "New values of time and reliability in passenger transport in The Netherlands," Research in Transportation Economics, Elsevier, vol. 47(C), pages 37-49.
    10. Lyons, Glenn & Urry, John, 2005. "Travel time use in the information age," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(2-3), pages 257-276.
    11. Banerjee, Ipsita & Kanafani, Adib, 2008. "The Value of Wireless Internet Connection on Trains: Implications for Mode-Choice Models," University of California Transportation Center, Working Papers qt3bv6g5pm, University of California Transportation Center.
    12. DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
    13. Stathopoulos, Amanda & Hess, Stephane, 2012. "Revisiting reference point formation, gains–losses asymmetry and non-linear sensitivities with an emphasis on attribute specific treatment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(10), pages 1673-1689.
    14. Banerjee, Ipsita & Kanafani, Adib, 2008. "The Value of Wireless Internet Connection on Trains: Implications for Mode-Choice Models," University of California Transportation Center, Working Papers qt8kf2t753, University of California Transportation Center.
    15. Gunn, Hugh, 0. "Spatial and temporal transferability of relationships between travel demand, trip cost and travel time," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 37(2-3), pages 163-189, April.
    16. Mark Wardman & Gerard Whelan, 2011. "Twenty Years of Rail Crowding Valuation Studies: Evidence and Lessons from British Experience," Transport Reviews, Taylor & Francis Journals, vol. 31(3), pages 379-398.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Esko Lehtonen & Johanna Wörle & Fanny Malin & Barbara Metz & Satu Innamaa, 2022. "Travel experience matters: Expected personal mobility impacts after simulated L3/L4 automated driving," Transportation, Springer, vol. 49(5), pages 1295-1314, October.
    2. Choi, Sungtaek & Mokhtarian, Patricia L., 2020. "How attractive is it to use the internet while commuting? A work-attitude-based segmentation of Northern California commuters," Transportation Research Part A: Policy and Practice, Elsevier, vol. 138(C), pages 37-50.
    3. Aliaksandr Malokin & Giovanni Circella & Patricia L. Mokhtarian, 2021. "Do millennials value travel time differently because of productive multitasking? A revealed-preference study of Northern California commuters," Transportation, Springer, vol. 48(5), pages 2787-2823, October.
    4. Mingzhu Song & Yi Zhang & Meng Li & Yi Zhang, 2021. "Accessibility of Transit Stops with Multiple Feeder Modes: Walking and Private-Bike Cycling," Sustainability, MDPI, vol. 13(6), pages 1-27, March.
    5. Anciaes, Paulo & Jones, Peter, 2020. "Transport policy for liveability – Valuing the impacts on movement, place, and society," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 157-173.
    6. Mark Wardman & Phani Chintakayala & Chris Heywood, 2020. "The valuation and demand impacts of the worthwhile use of travel time with specific reference to the digital revolution and endogeneity," Transportation, Springer, vol. 47(3), pages 1515-1540, June.
    7. Hensher, David A. & Beck, Matthew J. & Balbontin, Camila, 2021. "What does the quantum of working from home do to the value of commuting time used in transport appraisal?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 153(C), pages 35-51.
    8. Molin, Eric & Adjenughwure, Kingsley & de Bruyn, Menno & Cats, Oded & Warffemius, Pim, 2020. "Does conducting activities while traveling reduce the value of time? Evidence from a within-subjects choice experiment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 18-29.
    9. Schmid, Basil & Molloy, Joseph & Peer, Stefanie & Jokubauskaite, Simona & Aschauer, Florian & Hössinger, Reinhard & Gerike, Regine & Jara-Diaz, Sergio R. & Axhausen, Kay W., 2021. "The value of travel time savings and the value of leisure in Zurich: Estimation, decomposition and policy implications," Transportation Research Part A: Policy and Practice, Elsevier, vol. 150(C), pages 186-215.
    10. Randriamaro, Mary Tiana & Cook, Joseph, 2022. "The value of time, with and without a smartphone," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 138-146.
    11. Wei Chiang Chan & Wan Hashim Wan Ibrahim & May Chiun Lo & Mohamad Kadim Suaidi & Shiaw Tong Ha, 2020. "Sustainability of Public Transportation: An Examination of User Behavior to Real-Time GPS Tracking Application," Sustainability, MDPI, vol. 12(22), pages 1-20, November.
    12. Szimba, Eckhard & Hartmann, Martin, 2020. "Assessing travel time savings and user benefits of automated driving – A case study for a commuting relation," Transport Policy, Elsevier, vol. 98(C), pages 229-237.
    13. Bounie, Nathan & Adoue, François & Koning, Martin & L'Hostis, Alain, 2019. "What value do travelers put on connectivity to mobile phone and Internet networks in public transport? Empirical evidence from the Paris region," Transportation Research Part A: Policy and Practice, Elsevier, vol. 130(C), pages 158-177.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jinhyun Hong & David Philip McArthur & Mark Livingston, 2019. "Can Accessing the Internet while Travelling Encourage Commuters to Use Public Transport Regardless of Their Attitude?," Sustainability, MDPI, vol. 11(12), pages 1-10, June.
    2. Mark Wardman & Phani Chintakayala & Chris Heywood, 2020. "The valuation and demand impacts of the worthwhile use of travel time with specific reference to the digital revolution and endogeneity," Transportation, Springer, vol. 47(3), pages 1515-1540, June.
    3. Schmid, Basil & Molloy, Joseph & Peer, Stefanie & Jokubauskaite, Simona & Aschauer, Florian & Hössinger, Reinhard & Gerike, Regine & Jara-Diaz, Sergio R. & Axhausen, Kay W., 2021. "The value of travel time savings and the value of leisure in Zurich: Estimation, decomposition and policy implications," Transportation Research Part A: Policy and Practice, Elsevier, vol. 150(C), pages 186-215.
    4. Mark Wardman & Glenn Lyons, 2016. "The digital revolution and worthwhile use of travel time: implications for appraisal and forecasting," Transportation, Springer, vol. 43(3), pages 507-530, May.
    5. Maria Börjesson, 2014. "Inter-temporal variation in the travel time and travel cost parameters of transport models," Transportation, Springer, vol. 41(2), pages 377-396, March.
    6. Choi, Sungtaek & Mokhtarian, Patricia L., 2020. "How attractive is it to use the internet while commuting? A work-attitude-based segmentation of Northern California commuters," Transportation Research Part A: Policy and Practice, Elsevier, vol. 138(C), pages 37-50.
    7. Bouscasse, Hélène & de Lapparent, Matthieu, 2019. "Perceived comfort and values of travel time savings in the Rhône-Alpes Region," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 370-387.
    8. Börjesson, Maria & Eliasson, Jonas, 2014. "Experiences from the Swedish Value of Time study," Transportation Research Part A: Policy and Practice, Elsevier, vol. 59(C), pages 144-158.
    9. Tsoleridis, Panagiotis & Choudhury, Charisma F. & Hess, Stephane, 2022. "Deriving transport appraisal values from emerging revealed preference data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 165(C), pages 225-245.
    10. Börjesson, Maria & Eliasson, Jonas, 2012. "The value of time and external benefits in bicycle appraisal," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(4), pages 673-683.
    11. Molin, Eric & Adjenughwure, Kingsley & de Bruyn, Menno & Cats, Oded & Warffemius, Pim, 2020. "Does conducting activities while traveling reduce the value of time? Evidence from a within-subjects choice experiment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 18-29.
    12. C. Angelo Guevara, 2017. "Mode-valued differences of in-vehicle travel time Savings," Transportation, Springer, vol. 44(5), pages 977-997, September.
    13. Schmid, Basil & Jokubauskaite, Simona & Aschauer, Florian & Peer, Stefanie & Hössinger, Reinhard & Gerike, Regine & Jara-Diaz, Sergio R. & Axhausen, Kay W., 2019. "A pooled RP/SP mode, route and destination choice model to investigate mode and user-type effects in the value of travel time savings," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 262-294.
    14. Mikołaj Czajkowski & Marek Giergiczny & Jakub Kronenberg & Jeffrey Englin, 2019. "The Individual Travel Cost Method with Consumer-Specific Values of Travel Time Savings," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(3), pages 961-984, November.
    15. Shamshiripour, Ali & Rahimi, Ehsan & (Kouros) Mohammadian, Abolfazl & Auld, Joshua, 2020. "Investigating the influence of latent lifestyles on productive travels: Insights into designing autonomous transit system," Transportation Research Part A: Policy and Practice, Elsevier, vol. 141(C), pages 469-484.
    16. Beck, Matthew J. & Hess, Stephane & Cabral, Manuel Ojeda & Dubernet, Ilka, 2017. "Valuing travel time savings: A case of short-term or long term choices?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 100(C), pages 133-143.
    17. Small, Kenneth A., 2012. "Valuation of travel time," Economics of Transportation, Elsevier, vol. 1(1), pages 2-14.
    18. Kilkki, Kalevi & Hämmäinen, Heikki, 2019. "Value of Time in the Context of Communications Services," 30th European Regional ITS Conference, Helsinki 2019 205189, International Telecommunications Society (ITS).
    19. Kingsley Adjenughwure & Basil Papadopoulos, 2019. "Towards a Fair and More Transparent Rule-Based Valuation of Travel Time Savings," Sustainability, MDPI, vol. 11(4), pages 1-19, February.
    20. Bounie, Nathan & Adoue, François & Koning, Martin & L'Hostis, Alain, 2019. "What value do travelers put on connectivity to mobile phone and Internet networks in public transport? Empirical evidence from the Paris region," Transportation Research Part A: Policy and Practice, Elsevier, vol. 130(C), pages 158-177.

    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:eee:eejocm:v:28:y:2018:i:c:p:97-107. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/journal-of-choice-modelling .

    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.