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Title: Empirical Study of the Variation of Value of Travel Time and Reliability
Accession Number: 01623332
Record Type: Component
Abstract: This research used an empirical analysis of Katy Freeway Managed Lane (ML) data to examine the variation of the value of travel time (VOT) and reliability (VOR). The value of travel time and reliability were found to vary by different time periods. Travelers who take more trips on this freeway are more likely to use the toll-free lanes instead of the Managed Lanes (MLs) and have a lower VOT and VOR. In addition, experiencing a slow or delayed trip resulted in an increase in commuters’ VOT and VOR, which indicates that the travelers update their VOT and VOR according to their past travel experience. The paper recommends an efficient toll policy taking into account the complex and interacting changes of VOT and VOR for better operational benefits. Revealing the variation of VOR can help transportation analysts make better evaluation analysis and improve transportation models in mode choice, economy, and planning.
Supplemental Notes: This paper was sponsored by TRB committee ABE20 Standing Committee on Transportation Economics. Alternate title: Empirical Study of the Variation of the Value of Travel Time and Reliability.
Monograph Title: Monograph Accession #: 01618707
Report/Paper Numbers: 17-02354
Language: English
Corporate Authors: Transportation Research Board 500 Fifth Street, NW Authors: Zhang, Terry TianyaBurris, MarkJin, Peter JPagination: 25p
Publication Date: 2017
Conference:
Transportation Research Board 96th Annual Meeting
Location:
Washington DC, United States Media Type: Digital/other
Features: Figures; References; Tables
TRT Terms: Identifier Terms: Subject Areas: Economics; Highways; Operations and Traffic Management
Source Data: Transportation Research Board Annual Meeting 2017 Paper #17-02354
Files: TRIS, TRB, ATRI
Created Date: Dec 8 2016 10:52AM
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