01557329

Component

A traveler’s willingness to pay for travel time savings depends on his/her socio-economic characteristics, travel purpose, and situational factors such as time pressure under which the travel is undertaken. Earlier literature on Value of Time (VOT) analysis focused mostly on the first two factors but did not examine the last factor thoroughly. However, in the real world it is expected that (at least in most cases) a worker would be willing to pay more during the before- work period than during the after-work period since most of the worker should reach his/her work place by a certain time while the after-work schedule in general should be more relaxed. The additional time pressure during the before-work period makes time more valuable, thus increasing VOT. In some cases, where a worker with a flexible schedule has a high-priority post-work activity with a fixed schedule (for example tickets to a concert) the situation can be reversed. The current study aims to capture such impacts of daily activity patterns on a person’s VOT using a comprehensive trip segmentation framework that is comprised of several integrated mode and trip departure time of day (TOD) choice models. Each of these integrated models was estimated using both Revealed Preference (RP) and Stated Preference (SP) data from a large-scale global positioning system (GPS-) assisted Household Travel Survey undertaken in Jerusalem, Israel. The results not only confirm the long-held hypothesis about variation of VOT by socio-economic factors and trip purpose but also shed light on the variation of VOT with daily travel patterns. To the authors' knowledge, this is the first attempt to develop a rigorous modeling framework for capturing variation of VOT as a function of the individual daily activity pattern. An additional feature of the proposed approach is that it was practically implemented within the framework of an applied Activity-Based Model (ABM).

This paper was sponsored by TRB committee ADB40 Transportation Demand Forecasting.

01550057

15-3474

English

17p

2015

Transportation Research Board 94th Annual Meeting

Digital/other

Figures; References

Activity choices; Global Positioning System; Households; Periods of the day; Revealed preferences; Socioeconomic factors; Stated preferences; Travel patterns; Travel surveys; Value of time

Willingness to pay

Jerusalem

Planning and Forecasting; Transportation (General); I72: Traffic and Transport Planning

Transportation Research Board Annual Meeting 2015 Paper #15-3474

TRIS, TRB, ATRI

Dec 30 2014 1:10PM