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Scheduling preferences and the value of travel time information

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  • Engelson, Leonid
  • Fosgerau, Mogens

Abstract

In this paper, we derive the value of a signal obtained by a traveller prior to the choice of departure time. The signal does not have to be a perfect prediction of the travel time. It is sufficient that it carries information about the travel time. The traveller may then consider the distribution of travel time conditional on the signal to increase her expected utility by making a better informed choice of departure time.

Suggested Citation

  • Engelson, Leonid & Fosgerau, Mogens, 2020. "Scheduling preferences and the value of travel time information," Transportation Research Part B: Methodological, Elsevier, vol. 134(C), pages 256-265.
    • Handle: RePEc:eee:transb:v:134:y:2020:i:c:p:256-265
    DOI: 10.1016/j.trb.2020.02.010
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    References listed on IDEAS

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    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.
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    17. 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.
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    Cited by:

    1. Zhaoqi Zang & Richard Batley & Xiangdong Xu & David Z. W. Wang, 2022. "On the value of distribution tail in the valuation of travel time variability," Papers 2207.06293, arXiv.org, revised Dec 2023.
    2. Milad Haghani & Michiel C. J. Bliemer & John M. Rose & Harmen Oppewal & Emily Lancsar, 2021. "Hypothetical bias in stated choice experiments: Part I. Integrative synthesis of empirical evidence and conceptualisation of external validity," Papers 2102.02940, arXiv.org.
    3. Yu, Xiaojuan & van den Berg, Vincent A.C. & Li, Zhi-Chun, 2023. "Congestion pricing and information provision under uncertainty: Responsive versus habitual pricing," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 175(C).
    4. 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.
    5. Han, Xiao & Yu, Yun & Gao, Zi-You & Zhang, H. Michael, 2021. "The value of pre-trip information on departure time and route choice in the morning commute under stochastic traffic conditions," Transportation Research Part B: Methodological, Elsevier, vol. 152(C), pages 205-226.
    6. Zhang, Yuhan & Shao, Yichang & Bi, Hui & Aoyong, Li & Ye, Zhirui, 2023. "Bike-sharing systems rebalancing considering redistribution proportions: A user-based repositioning approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 610(C).
    7. Haiyan Zhu & Hongzhi Guan & Yan Han & Wanying Li, 2020. "Can Road Toll Convince Car Travelers to Adjust Their Departure Times? Accounting for the Effect of Choice Behavior under Long and Short Holidays," Sustainability, MDPI, vol. 12(24), pages 1-29, December.

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