Journal
TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW
Volume 46, Issue 3, Pages 384-403Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.tre.2009.12.005
Keywords
Travel time reliability; Passenger transport; Value of travel time savings; Value of reliability; Schedule delay
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This paper reviews and critiques the modelling frameworks and empirical measurement paradigms used to obtain willingness to pay (WTP) for improved travel time reliability, suggesting new directions for ongoing research. We also estimate models to derive values of reliability, scheduling costs and reliability ratios in the context of Australian toll roads and use the new evidence to highlight the important influence of the way that trip time variability is included in stated preference studies in deriving WTP estimates of reliability in absolute terms, and relative to the value of travel time savings. (C) 2009 Elsevier Ltd. All rights reserved.
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