IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The Value of Time and Reliability: Measurement from a Value Pricing Experiment

  • Lam, Terence C.
  • Small, Kenneth A.

We measure values of time and reliability from 1998 data on actual behavior of commuters on State Route 91 in Orange County, California, where they choose between a free and a variably tolled route. For each route at each time of day and for each day of the week, the distribution of travel times cross different weeks is measured using loop detector data. The best-fitting models represent travel-time by its median and unreliability by the difference between the 90th percentile and the median. We present models of route choice both alone and combined with other choices, namely time of day, car occupancy, and installation of an electronic transponder. In our best model, containing all these choices except time of day, value of time (VOT) is $22.87 per hour, while value of reliability is $15.12 per hour for men and $31.91 for women. These values are 72%,48%, and 101%, respectively, of the average wage rate in our sample.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.escholarship.org/uc/item/47s4z7z5.pdf;origin=repeccitec
Download Restriction: no

Paper provided by University of California Transportation Center in its series University of California Transportation Center, Working Papers with number qt47s4z7z5.

as
in new window

Length:
Date of creation: 01 Sep 2003
Date of revision:
Handle: RePEc:cdl:uctcwp:qt47s4z7z5
Contact details of provider: Postal: 109 McLaughlin Hall, Mail Code 1720, Berkeley, CA 94720-1720
Phone: 510-642-3585
Fax: 510-643-3955
Web page: http://www.escholarship.org/repec/uctc/
Email:


More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cdl:uctcwp:qt47s4z7z5. 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: (Lisa Schiff)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.