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Vehicle value of travel time savings: Evidence from a group-based modelling approach

Listed author(s):
  • Ho, Chinh Q.
  • Mulley, Corinne
  • Shiftan, Yoram
  • Hensher, David A.

The value of travel time savings (VTTS) accounts for a majority of the total user benefits in economic appraisal of transport investments. This means that having an accurate estimate of VTTS for different segments of travel continues to retain currency, despite there being a rich literature on estimates of VTTS for different travel modes, travel purposes, income groups, life cycles, and distance bands. In contrast, there is a dearth of research and evidence on vehicle VTTS, although joint travel by car is an important segment of travel. This paper fills this gap by developing a group-based modelling approach to quantify the vehicle VTTS and compares this with the VTTS for a driver with and without a passenger. An online survey was conducted in Sydney in 2014 and the data used to obtain a number of new empirical estimates of vehicle and driver VTTS. The new evidence questions the validity of various assumptions adopted in current practice for valuing the time savings of car passengers and multiple occupant cars.

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Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

Volume (Year): 88 (2016)
Issue (Month): C ()
Pages: 134-150

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Handle: RePEc:eee:transa:v:88:y:2016:i:c:p:134-150
DOI: 10.1016/j.tra.2016.03.016
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  1. Luca Zamparini & Aura Reggiani, 2007. "Meta-Analysis and the Value of Travel Time Savings: A Transatlantic Perspective in Passenger Transport," Networks and Spatial Economics, Springer, vol. 7(4), pages 377-396, December.
  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. Chinh Ho & Corinne Mulley, 2013. "Tour-based mode choice of joint household travel patterns on weekend and weekday," Transportation, Springer, vol. 40(4), pages 789-811, July.
  4. Román, Concepción & Espino, Raquel & Martín, Juan Carlos, 2007. "Competition of high-speed train with air transport: The case of Madrid–Barcelona," Journal of Air Transport Management, Elsevier, vol. 13(5), pages 277-284.
  5. Matthew J. Beck & Caspar G. Chorus & John M. Rose & David A. Hensher, 2013. "Vehicle Purchasing Behaviour of Individuals and Groups: Regret or Reward?," Journal of Transport Economics and Policy, University of Bath, vol. 47(3), pages 475-492, September.
  6. Donna Dosman & Wiktor Adamowicz, 2006. "Combining Stated and Revealed Preference Data to Construct an Empirical Examination of Intrahousehold Bargaining," Review of Economics of the Household, Springer, vol. 4(1), pages 15-34, 03.
  7. Hensher,David A. & Rose,John M. & Greene,William H., 2015. "Applied Choice Analysis," Cambridge Books, Cambridge University Press, number 9781107465923, October.
  8. Hensher, David A, 1986. "Sequential and Full Information Maximum Likelihood Estimation of a Nested Logit Model," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 657-667, November.
  9. Abrantes, Pedro A.L. & Wardman, Mark R., 2011. "Meta-analysis of UK values of travel time: An update," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(1), pages 1-17, January.
  10. Hensher, David A., 2008. "Influence of vehicle occupancy on the valuation of car driver's travel time savings: Identifying important behavioural segments," Transportation Research Part A: Policy and Practice, Elsevier, vol. 42(1), pages 67-76, January.
  11. John Gliebe & Frank Koppelman, 2005. "Modeling household activity–travel interactions as parallel constrained choices," Transportation, Springer, vol. 32(5), pages 449-471, 09.
  12. Vikki O’Neill & Stephane Hess, 2014. "Heterogeneity assumptions in the specification of bargaining models: a study of household level trade-offs between commuting time and salary," Transportation, Springer, vol. 41(4), pages 745-763, July.
  13. Richard Batley, 2015. "The Hensher equation: derivation, interpretation and implications for practical implementation," Transportation, Springer, vol. 42(2), pages 257-275, March.
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