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Income and distance elasticities of values of travel time savings: New Swiss results


  • Axhausen, Kay W.
  • Hess, Stephane
  • König, Arnd
  • Abay, Georg
  • Bates, John J.
  • Bierlaire, Michel


This paper presents the findings of a study looking into the valuation of travel time savings (VTTS) in Switzerland, across modes as well as across purpose groups. The study makes several departures from the usual practice in VTTS studies, with the main one being a direct representation of the income and distance elasticity of the VTTS measures. Here, important gains in model performance and significantly different results are obtained through this approach. Additionally, the analysis shows that the estimation of robust coefficients for congested car travel time is hampered by the low share of congested time in the overall travel time, and the use of an additional rate-of-congestion coefficient, in addition to a generic car travel time coefficient, is preferable. Finally, the analysis demonstrates that the population mean of the indicators calculated is quite different from the sample means and presents methods to calculate those, along with the associated variances. These variances are of great interest as they allow the generation of confidence intervals, which can be extremely useful in cost-benefit analyses.

Suggested Citation

  • 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.
  • Handle: RePEc:eee:trapol:v:15:y:2008:i:3:p:173-185

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    References listed on IDEAS

    1. Jovicic, Goran & Hansen, Christian Overgaard, 2003. "A passenger travel demand model for Copenhagen," Transportation Research Part A: Policy and Practice, Elsevier, vol. 37(4), pages 333-349, May.
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    Cited by:

    1. 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.
    2. Hjorth, Katrine & Fosgerau, Mogens, 2012. "Using prospect theory to investigate the low marginal value of travel time for small time changes," Transportation Research Part B: Methodological, Elsevier, vol. 46(8), pages 917-932.
    3. Hurtubia, Ricardo & Nguyen, My Hang & Glerum, Aurélie & Bierlaire, Michel, 2014. "Integrating psychometric indicators in latent class choice models," Transportation Research Part A: Policy and Practice, Elsevier, vol. 64(C), pages 135-146.
    4. Obermeyer, Andy & Treiber, Martin & Evangelinos, Christos, 2015. "On the identification of thresholds in travel choice modelling," Journal of choice modelling, Elsevier, vol. 17(C), pages 1-9.
    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. Glerum, Aurélie & Atasoy, Bilge & Bierlaire, Michel, 2014. "Using semi-open questions to integrate perceptions in choice models," Journal of choice modelling, Elsevier, vol. 10(C), pages 11-33.
    7. Merkert, Rico & Beck, Matthew, 2017. "Value of travel time savings and willingness to pay for regional aviation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 96(C), pages 29-42.
    8. Kristine Pakalniete & Juris Aigars & Mikolaj Czajkowski & Solvita Strake & Ewa Zawojska & Nick Hanley, 2016. "Understanding the distribution of economic benefits from improving coastal and marine ecosystems," Discussion Papers in Environment and Development Economics 2016-14, University of St. Andrews, School of Geography and Sustainable Development.
    9. Robenek, Tomáš & Maknoon, Yousef & Azadeh, Shadi Sharif & Chen, Jianghang & Bierlaire, Michel, 2016. "Passenger centric train timetabling problem," Transportation Research Part B: Methodological, Elsevier, vol. 89(C), pages 107-126.
    10. Menghini, G. & Carrasco, N. & Schüssler, N. & Axhausen, K.W., 2010. "Route choice of cyclists in Zurich," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(9), pages 754-765, November.
    11. Román, Concepción & Martín, Juan Carlos & Espino, Raquel & Cherchi, Elisabetta & Ortúzar, Juan de Dios & Rizzi, Luis Ignacio & González, Rosa Marina & Amador, Francisco Javier, 2014. "Valuation of travel time savings for intercity travel: The Madrid-Barcelona corridor," Transport Policy, Elsevier, vol. 36(C), pages 105-117.
    12. Börjesson, Maria & Eliasson, Jonas, 2017. "Should values of time be differentiated?," Working papers in Transport Economics 2017:4, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    13. Wheat, Phill & Batley, Richard, 2015. "Quantifying and decomposing the uncertainty in appraisal value of travel time savings," Transport Policy, Elsevier, vol. 44(C), pages 134-142.
    14. 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.
    15. 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.
    16. Jan-Erik Swärdh & Staffan Algers, 2016. "Willingness to accept commuting time within the household: stated preference evidence," Transportation, Springer, vol. 43(2), pages 219-241, March.
    17. 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.
    18. repec:eee:transb:v:107:y:2018:i:c:p:18-40 is not listed on IDEAS
    19. Fernández-Antolín, Anna & Guevara, C. Angelo & de Lapparent, Matthieu & Bierlaire, Michel, 2016. "Correcting for endogeneity due to omitted attitudes: Empirical assessment of a modified MIS method using RP mode choice data," Journal of choice modelling, Elsevier, vol. 20(C), pages 1-15.
    20. Crabbe, Marjolein & Akinc, Deniz & Vandebroek, Martina, 2014. "Fast algorithms to generate individualized designs for the mixed logit choice model," Transportation Research Part B: Methodological, Elsevier, vol. 60(C), pages 1-15.

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