01128782

Component

https://doi.org/10.3141/2135-02

http://scholar.google.com...noda&publication_year=2009

This paper analyzes the variation in the value of travel time savings (VTTS) over travel time by applying the method of empirical discrete choice analysis with nonlinear utility functions. First, it formulates the time allocation model and derives VTTS from the model. The theoretical consideration shows that it is impossible to identify the conditions determining the monotonic change in VTTS over travel time. The paper then examines the variation in VTTS over travel time by using empirical data on choices of interurban travel modes in Japan. The empirical analysis assumes constant marginal utility with respect to income for the first case using the model with a nonlinear utility function and assumes nonconstant marginal utility for the second case using the model with a nonlinear utility function. The first case analysis shows that VTTS decreases as travel time increases. The second case shows that variations in the estimated VTTS over travel time appear to be neutral in the case of rail and airplane users, whereas the estimated VTTS appears to decrease as travel time increases in the case of automobile users. If it is acknowledged that VTTS decreases as travel time increases, the marginal benefit arising from the marginal travel time savings would increase as travel time declines, which implies that society will require additional travel time savings as travel time decreases.

01147882

09-1823

English

pp 10-16

2009

Transportation Research Record: Journal of the Transportation Research Board

9780309142724

Print

Figures (3) ; References (22) ; Tables (1)

Case studies; Empirical methods; Intercity transportation; Mode choice; Travel time

Discrete choice methods; Time allocation; Time savings

Japan

Aviation; Highways; Planning and Forecasting; Railroads; I72: Traffic and Transport Planning

TRIS, TRB, ATRI

Jan 30 2009 6:05PM

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