01594809

Component

Most value of time studies make use of stated preference data framed around short term decisions such as route choice. However, except in the presence of toll roads, most travelers only have the ability to really trade time and money in a longer term setting, such as when changing residential or employment location. In this paper, the authors make use of a unique dataset which presented respondents with both short term and long term decisions. The former involved trading between travel time and travel cost, while the latter looked at changes in employment. The authors find substantial differences in the valuations coming out of these two types of experiments. In common with many other studies, there are also differences depending on whether willingness to accept or willingness to pay scenarios are presented in the short term settings, but the authors additionally note that the type of scenario shown in the short term choices has an impact on the valuations in the long term settings, which are always framed as a willingness to accept setting.

This paper was sponsored by TRB committee ADB10 Standing Committee on Traveler Behavior and Values.

01584066

16-5650

English

14p

2016

Transportation Research Board 95th Annual Meeting

Web

Figures; References (25) ; Tables

Costs; Decision making; Economics; Travel behavior; Value of time

Economics; Highways; Safety and Human Factors

Transportation Research Board Annual Meeting 2016 Paper #16-5650

TRIS, TRB, ATRI

Jan 12 2016 6:28PM