IDEAS home Printed from https://ideas.repec.org/p/tin/wpaper/20030036.html
   My bibliography  Save this paper

Valuation of Travel Time and TravelIer Information

Author

Listed:
  • Piet Rietveld

    (Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam)

Abstract

The value of travel time plays an important role in cost benefit analysis of infrastructureprojects. However, the issue of uncertainty on travel times and the implications this has forestimations of travel time values has received much less attention in the literature. In thispaper we compare various modelling approaches to address uncertainty and demonstrate thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in public transport where various trip components may have differentvaluations and degrees of uncertainty. Our approach sheds light among others on the hightime valuations for waiting at transfer points in public transport. Implications are given for thesupply of traveller information on values of travel time in public transport.

Suggested Citation

  • Piet Rietveld, 2003. "Valuation of Travel Time and TravelIer Information," Tinbergen Institute Discussion Papers 03-036/3, Tinbergen Institute.
    • Handle: RePEc:tin:wpaper:20030036
    as

    Download full text from publisher

    File URL: https://papers.tinbergen.nl/03036.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    multimodal travel; public transport; value of travel time; expected utility; uncertainty; unreliability.;
    All these keywords.

    JEL classification:

    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General

    Statistics

    Access and download statistics

    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:tin:wpaper:20030036. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tinbergen Office +31 (0)10-4088900 (email available below). General contact details of provider: https://edirc.repec.org/data/tinbenl.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.