Arbeitspapier
Valuation of Travel Time and TravelIer Information
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.
- Language
-
Englisch
- Bibliographic citation
-
Series: Tinbergen Institute Discussion Paper ; No. 03-036/3
- Classification
-
Wirtschaft
Transportation Economics: General
- Subject
-
multimodal travel
public transport
value of travel time
expected utility
uncertainty
unreliability.
Transportzeit
Kosten
Öffentlicher Nahverkehr
- Event
-
Geistige Schöpfung
- (who)
-
Rietveld, Piet
- Event
-
Veröffentlichung
- (who)
-
Tinbergen Institute
- (where)
-
Amsterdam and Rotterdam
- (when)
-
2003
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Rietveld, Piet
- Tinbergen Institute
Time of origin
- 2003
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