Value of Time Comparisons in the Presence of Unexpected Delay
This study estimates Value of Time differences between people who arrived at their destination as planned and those that were delayed. The analysis is based on the I-394 MnPASS High Occupancy/Toll (HOT) lane project recently implemented in the Minneapolis/St. Paul region. Using a Stated Preference survey, the individuals are asked about a trip they have taken before, and asked if they would opt for the free route or pay and go on the HOT lanes. The analysis groups the travelers into subscribers and non-subscribers of the MnPASS (electronic toll collection transponder) system and further decomposes choices into categories based on trip time and experience (delayed or not). Trip times were divided into morning peak, afternoon peak, and off peak and trip experience was divided into delayed and not delayed, creating six categories. The findings suggest an increased willingness to pay among subscribers who were late to reduce travel time in the PM rush hour. As well, we find some evidence that individuals who were late during the AM peak have a lower VOT as compared to their on-time counterparts.
|Date of creation:||2005|
|Contact details of provider:|| Postal: Dept. of Civil Engineering, 500 Pillsbury Drive SE, Minneapolis, MN 55455|
Phone: +01 (612) 625-6354
Fax: +01 (612) 626-7750
Web page: http://nexus.umn.edu
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- Brownstone, David & Small, Kenneth A., 2003.
"Valuing Time and Reliability: Assessing the Evidence from Road Pricing Demonstrations,"
University of California Transportation Center, Working Papers
qt95z0p35k, University of California Transportation Center.
- 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.
- Noland, Robert B. & Small, Kenneth A. & Koskenoja, Pia Maria & Chu, Xuehao, 1998.
"Simulating travel reliability,"
Regional Science and Urban Economics,
Elsevier, vol. 28(5), pages 535-564, September.
- Noland, R.B. & Small, K.A. & Koskenoja, P.M. & Chu, X., 1996. "Simulating Travel Reliability," Papers 95-96-7, California Irvine - School of Social Sciences.
- Noland, Robert B. & Small, Kenneth A. & Koskenoja, Pia Maria & Chu, Xuehao, 1997. "Simulating Travel Reliability," University of California Transportation Center, Working Papers qt30w220k0, University of California Transportation Center.
- Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-479, June.
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