IDEAS home Printed from https://ideas.repec.org/a/eee/retrec/v47y2014icp37-49.html
   My bibliography  Save this article

New values of time and reliability in passenger transport in The Netherlands

Author

Listed:
  • Kouwenhoven, Marco
  • de Jong, Gerard C.
  • Koster, Paul
  • van den Berg, Vincent A.C.
  • Verhoef, Erik T.
  • Bates, John
  • Warffemius, Pim M.J.

Abstract

We have established new values of time (VOTs) and values of travel time reliability (VORs) for use in cost-benefit analysis (CBA) of transport projects in The Netherlands. This was the first national study in The Netherlands (and one of the first world-wide) to investigate these topics empirically in a joint framework.

Suggested Citation

  • 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.
    • Handle: RePEc:eee:retrec:v:47:y:2014:i:c:p:37-49
    DOI: 10.1016/j.retrec.2014.09.017
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0739885914000584
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.retrec.2014.09.017?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. 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.
    2. 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.
    3. 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.
    4. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    5. Fosgerau, Mogens & Engelson, Leonid, 2011. "The value of travel time variance," Transportation Research Part B: Methodological, Elsevier, vol. 45(1), pages 1-8, January.
    6. Tseng, Yin-Yen & Verhoef, Erik T., 2008. "Value of time by time of day: A stated-preference study," Transportation Research Part B: Methodological, Elsevier, vol. 42(7-8), pages 607-618, August.
    7. Börjesson, Maria & Eliasson, Jonas & Franklin, Joel, 2012. "Valuations of travel time variability in scheduling versus mean-variance models," Working papers in Transport Economics 2012:2, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    8. 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.
    9. 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.
    10. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    11. Axhausen, Kay W. & Hess, Stephane & König, Arnd & Abay, Georg & Bates, John J. & Bierlaire, Michel, 2008. "Income and distance elasticities of values of travel time savings: New Swiss results," Transport Policy, Elsevier, vol. 15(3), pages 173-185, May.
    12. Fosgerau, Mogens & Karlström, Anders, 2010. "The value of reliability," Transportation Research Part B: Methodological, Elsevier, vol. 44(1), pages 38-49, January.
    13. Fosgerau, Mogens, 2006. "Investigating the distribution of the value of travel time savings," Transportation Research Part B: Methodological, Elsevier, vol. 40(8), pages 688-707, September.
    14. Andrew Daly & Flavia Tsang & Charlene Rohr, 2014. "The Value of Small Time Savings for Non-business Travel," Journal of Transport Economics and Policy, University of Bath, vol. 48(2), pages 205-218, May.
    15. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-260, May.
    16. Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-479, June.
    17. Bates, John & Polak, John & Jones, Peter & Cook, Andrew, 0. "The valuation of reliability for personal travel," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 37(2-3), pages 191-229, April.
    18. David Hensher & John Rose & Zheng Li, 2012. "Does the choice model method and/or the data matter?," Transportation, Springer, vol. 39(2), pages 351-385, March.
    Full references (including those not matched with items on IDEAS)

    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. Xiao, Yu & Fukuda, Daisuke, 2015. "On the cost of misperceived travel time variability," Transportation Research Part A: Policy and Practice, Elsevier, vol. 75(C), pages 96-112.
    2. Abegaz, Dereje & Hjorth, Katrine & Rich, Jeppe, 2017. "Testing the slope model of scheduling preferences on stated preference data," Transportation Research Part B: Methodological, Elsevier, vol. 104(C), pages 409-436.
    3. Small, Kenneth A., 2012. "Valuation of travel time," Economics of Transportation, Elsevier, vol. 1(1), pages 2-14.
    4. Nicolas Coulombel & André de Palma, 2014. "The marginal social cost of travel time variability," Post-Print hal-01100105, HAL.
    5. Wang, Qian & Sundberg, Marcus & Karlström, Anders, 2013. "Scheduling choices under rank dependent utility maximization," Working papers in Transport Economics 2013:16, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    6. Hjorth, Katrine & Börjesson, Maria & Engelson, Leonid & Fosgerau, Mogens, 2015. "Estimating exponential scheduling preferences," Transportation Research Part B: Methodological, Elsevier, vol. 81(P1), pages 230-251.
    7. de Jong, Gerard C. & Bliemer, Michiel C.J., 2015. "On including travel time reliability of road traffic in appraisal," Transportation Research Part A: Policy and Practice, Elsevier, vol. 73(C), pages 80-95.
    8. Benezech, Vincent & Coulombel, Nicolas, 2013. "The value of service reliability," Transportation Research Part B: Methodological, Elsevier, vol. 58(C), pages 1-15.
    9. Engelson, Leonid & Fosgerau, Mogens, 2016. "The cost of travel time variability: Three measures with properties," Transportation Research Part B: Methodological, Elsevier, vol. 91(C), pages 555-564.
    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. Hao, Lu & Hansen, Mark, 2014. "Block time reliability and scheduled block time setting," Transportation Research Part B: Methodological, Elsevier, vol. 69(C), pages 98-111.
    12. Xiao, Yu & Coulombel, Nicolas & Palma, André de, 2017. "The valuation of travel time reliability: does congestion matter?," Transportation Research Part B: Methodological, Elsevier, vol. 97(C), pages 113-141.
    13. Zhaoqi Zang & Xiangdong Xu & Kai Qu & Ruiya Chen & Anthony Chen, 2022. "Travel time reliability in transportation networks: A review of methodological developments," Papers 2206.12696, arXiv.org, revised Jul 2022.
    14. Jenelius, Erik, 2012. "The value of travel time variability with trip chains, flexible scheduling and correlated travel times," Transportation Research Part B: Methodological, Elsevier, vol. 46(6), pages 762-780.
    15. Mogens Fosgerau & Kurt Van Dender, 2013. "Road pricing with complications," Transportation, Springer, vol. 40(3), pages 479-503, May.
    16. Paul Koster & Eric Pels & Erik Verhoef, 2016. "The User Costs of Air Travel Delay Variability," Transportation Science, INFORMS, vol. 50(1), pages 120-131, February.
    17. Hess, Stephane & Daly, Andrew & Dekker, Thijs & Cabral, Manuel Ojeda & Batley, Richard, 2017. "A framework for capturing heterogeneity, heteroskedasticity, non-linearity, reference dependence and design artefacts in value of time research," Transportation Research Part B: Methodological, Elsevier, vol. 96(C), pages 126-149.
    18. Börjesson, Maria & Eliasson, Jonas, 2011. "On the use of "average delay" as a measure of train reliability," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(3), pages 171-184, March.
    19. Wang, Qian & Sundberg, Marcus & Karlström, Anders, 2013. "On the other half of the story: allowing for discrete penalties for excessive travel times in scheduling models," Working papers in Transport Economics 2013:15, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    20. Fu, Jianhua & Zhang, Yongqing, 2020. "Valuation of travel time reliability: Considering the traveler's adaptive expectation with an indifference band on daily trip duration," Transportation Research Part A: Policy and Practice, Elsevier, vol. 140(C), pages 337-353.

    More about this item

    Keywords

    Value of time; Value of reliability; Stated preference; Latent class model;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

    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:eee:retrec:v:47:y:2014:i:c:p:37-49. 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.elsevier.com/wps/find/journaldescription.cws_home/620614/description#description .

    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.