IDEAS home Printed from https://ideas.repec.org/a/eee/transb/v66y2014icp129-147.html
   My bibliography  Save this article

Estimating the value of travel time and of travel time reliability in road networks

Author

Listed:
  • Uchida, Kenetsu

Abstract

This study proposes two network models which simultaneously estimate the value of travel time and of travel time reliability based on the risk-averse driver’s route choice behavior. The first model is formulated as a utility maximization problem under monotonic and separable link travel times, whereas the second model is formulated as a utility maximization problem under non-monotonic and non-separable link travel times. The proposed models have the same structure as a user equilibrium (UE) traffic assignment problem with elastic demand. It is shown that the first model, which addresses independent stochastic capacity, is formulated as an optimization problem with a unique solution and is solved by using an algorithm for a UE traffic assignment problem with fixed demand. The second model, which addresses both stochastic Origin–Destination (O–D) flow and stochastic link capacity, is formulated as a nonlinear complementary problem. O–D demand functions formulated in the proposed models are derived from the utility maximization behavior of the driver in the network. Therefore, the network models proposed in this study are consistent with those of studies that address the value of travel time and of travel time reliability based on utility maximization behavior without considering the driver’s route choice. Numerical experiments are carried out to demonstrate the models presented in this study.

Suggested Citation

  • Uchida, Kenetsu, 2014. "Estimating the value of travel time and of travel time reliability in road networks," Transportation Research Part B: Methodological, Elsevier, vol. 66(C), pages 129-147.
  • Handle: RePEc:eee:transb:v:66:y:2014:i:c:p:129-147
    DOI: 10.1016/j.trb.2014.01.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0191261514000034
    Download Restriction: Full text for ScienceDirect subscribers only

    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. Wu, Xing & (Marco) Nie, Yu, 2011. "Modeling heterogeneous risk-taking behavior in route choice: A stochastic dominance approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(9), pages 896-915, November.
    2. Lam, William H.K. & Shao, Hu & Sumalee, Agachai, 2008. "Modeling impacts of adverse weather conditions on a road network with uncertainties in demand and supply," Transportation Research Part B: Methodological, Elsevier, vol. 42(10), pages 890-910, December.
    3. van der Zijpp, N.J. & Fiorenzo Catalano, S., 2005. "Path enumeration by finding the constrained K-shortest paths," Transportation Research Part B: Methodological, Elsevier, vol. 39(6), pages 545-563, July.
    4. Chen, Anthony & Yang, Hai & Lo, Hong K. & Tang, Wilson H., 2002. "Capacity reliability of a road network: an assessment methodology and numerical results," Transportation Research Part B: Methodological, Elsevier, vol. 36(3), pages 225-252, March.
    5. Brownstone, David & Small, Kenneth A., 2005. "Valuing time and reliability: assessing the evidence from road pricing demonstrations," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(4), pages 279-293, May.
    6. Ng, ManWo & Szeto, W.Y. & Travis Waller, S., 2011. "Distribution-free travel time reliability assessment with probability inequalities," Transportation Research Part B: Methodological, Elsevier, vol. 45(6), pages 852-866, July.
    7. Fosgerau, Mogens & Engelson, Leonid, 2011. "The value of travel time variance," Transportation Research Part B: Methodological, Elsevier, vol. 45(1), pages 1-8, January.
    8. 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).
    9. Hu Shao & William Lam & Mei Tam, 2006. "A Reliability-Based Stochastic Traffic Assignment Model for Network with Multiple User Classes under Uncertainty in Demand," Networks and Spatial Economics, Springer, vol. 6(3), pages 173-204, September.
    10. Cascetta, Ennio, 1989. "A stochastic process approach to the analysis of temporal dynamics in transportation networks," Transportation Research Part B: Methodological, Elsevier, vol. 23(1), pages 1-17, February.
    11. Clark, Stephen & Watling, David, 2005. "Modelling network travel time reliability under stochastic demand," Transportation Research Part B: Methodological, Elsevier, vol. 39(2), pages 119-140, February.
    12. Watling, David, 2006. "User equilibrium traffic network assignment with stochastic travel times and late arrival penalty," European Journal of Operational Research, Elsevier, vol. 175(3), pages 1539-1556, December.
    13. Hensher, David A. & Greene, William H. & Li, Zheng, 2011. "Embedding risk attitude and decision weights in non-linear logit to accommodate time variability in the value of expected travel time savings," Transportation Research Part B: Methodological, Elsevier, vol. 45(7), pages 954-972, August.
    14. Fosgerau, Mogens & Karlström, Anders, 2010. "The value of reliability," Transportation Research Part B: Methodological, Elsevier, vol. 44(1), pages 38-49, January.
    15. Sumalee, Agachai & Xu, Wei, 2011. "First-best marginal cost toll for a traffic network with stochastic demand," Transportation Research Part B: Methodological, Elsevier, vol. 45(1), pages 41-59, January.
    16. Sherali, Hanif D. & Narayanan, Arvind & Sivanandan, R., 2003. "Estimation of origin-destination trip-tables based on a partial set of traffic link volumes," Transportation Research Part B: Methodological, Elsevier, vol. 37(9), pages 815-836, November.
    17. DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
    18. Ng, ManWo & Waller, S. Travis, 2010. "A computationally efficient methodology to characterize travel time reliability using the fast Fourier transform," Transportation Research Part B: Methodological, Elsevier, vol. 44(10), pages 1202-1219, December.
    19. FUJIWARA Toru & HASUIKE Katsuhito & KANEMOTO Yoshitsugu, 2004. "A Small-Scale Microeconomic Model for Policy Evaluation - Evaluating Measures to Combat Global Warming in the Passenger Vehicle Sector (Japanese)," Discussion Papers (Japanese) 04046, Research Institute of Economy, Trade and Industry (RIETI).
    20. Lo, Hong K. & Tung, Yeou-Koung, 2003. "Network with degradable links: capacity analysis and design," Transportation Research Part B: Methodological, Elsevier, vol. 37(4), pages 345-363, May.
    21. Chen, Anthony & Zhou, Zhong & Lam, William H.K., 2011. "Modeling stochastic perception error in the mean-excess traffic equilibrium model," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1619-1640.
    22. Chen, Anthony & Zhou, Zhong, 2010. "The [alpha]-reliable mean-excess traffic equilibrium model with stochastic travel times," Transportation Research Part B: Methodological, Elsevier, vol. 44(4), pages 493-513, May.
    23. Lo, Hong K. & Chen, Anthony, 2000. "Traffic equilibrium problem with route-specific costs: formulation and algorithms," Transportation Research Part B: Methodological, Elsevier, vol. 34(6), pages 493-513, August.
    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. Demir, Emrah & Huang, Yuan & Scholts, Sebastiaan & Van Woensel, Tom, 2015. "A selected review on the negative externalities of the freight transportation: Modeling and pricing," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 77(C), pages 95-114.
    2. 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.

    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:transb:v:66:y:2014:i:c:p:129-147. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/548/description#description .

    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 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.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.