Valuations of travel time variability in scheduling versus mean-variance models

Transportation Research Part B: Methodological

Volumn 46, Issue 7, 2012, Pages 855-873

  Börjesson, Maria ^a   Eliasson, Jonas ^a   Franklin, Joel P ^a  

^a ROYAL INSTITUTE OF TECHNOLOGY   (Sweden)

Author keywords

Public transport; Reliability; Scheduling; Stated preferences; Travel time variability; Valuation

Indexed keywords

MASS TRANSPORTATION; RELIABILITY; RESOURCE VALUATION; SCHEDULING;

MEAN VARIANCE MODEL; PUBLIC TRANSPORT; REDUCED-FORM MODELING; STANDARD DEVIATION; STATED PREFERENCES; TRAVEL TIME DISTRIBUTIONS; TRAVEL TIME VARIABILITIES; VALUE OF TRAVEL TIME VARIABILITIES;

TRAVEL TIME;

ARRIVAL TIME; NUMERICAL MODEL; PUBLIC TRANSPORT; TRAVEL TIME; VALUATION; VARIANCE ANALYSIS;

EID: 84861348033     PISSN: 01912615     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.trb.2012.02.004     Document Type: Article

References (23)

1. Bates, J., 2009. An agenda for research on reliability. Proceedings of the European Transport Conference. <>. http://etcproceedings.org/paper/an-agenda-for-research-on-reliability.
2. Bates, J., Black, I., Fearon, J., Gilliam, C., Porter, S., 2002. Supply models for use in modelling the variability of journey times on the highway network. Proceedings of the European Transport Conference. <>. http://etcproceedings.org/paper/supply-models-for-use-in-modelling-the-variability-of-journey-times-on-the-hig.
3. Bates J., Polak J., Jones P., Cook A. The valuation of reliability for personal travel. Transportation Research Part E 2001, 37(2-3):191-229.
4. Batley R. Marginal valuations of travel time and scheduling, and the reliability premium. Transportation Research Part E 2007, 43(4):387-408.
5. Burns Z., Chiu A., Wu G. Overweighting of Small Probabilities. Encyclopedia of Operations Research and Management Science 2010, John Wiley & Sons.
6. Börjesson M., Eliasson J. On the use of " average delay" as a measure of train reliability. Transportation Research Part A 2011, 45(3):171-184.
7. de Palma A., Ben-Akiva M., Brownstone D., Holt C., Magnac T., McFadden D., Moffatt P., et al. Risk, uncertainty and discrete choice models. Marketing Letters 2008, 19(3-4):269-285.
8. Fosgerau M., Engelson L. The value of travel time variance. Transportation Research Part B 2011, 45(1):1-8.
9. Fosgerau M., Karlström A. The value of reliability. Transportation Research Part B 2010, 44(1):38-49.
10. Hakes J.K., Viscusi W.K. Dead reckoning: demographic determinants of the accuracy of mortality risk perceptions. Risk Analysis 2004, 24(3):651-664.
11. Hjorth, K., 2010. Notes on VOR Model for Discrete Travel Time Distribution. Technical Note, DTU Transport, Copenhagen.
12. Jenelius E., Mattsson L.-G., Levinson D. Traveler delay costs and value of time with trip chains, flexible activity scheduling and information. Transportation Research Part B 2011, 45(5):789-807.
13. Lam T.C., Small K.A. The value of time and reliability: measurement from a value pricing experiment. Transportation Research Part E 2001, 37(2-3):231-251.
14. Lichtenstein S., Slovic P., Fischhoff B., Layman M., Combs B. Judged frequency of lethal events. Journal of Experimental Psychology: Human Learning and Memory 1978, 4(6):551-578.
15. Morgan, M. G., others, 1983. On judging the frequency of lethal events: a replication. Risk Analysis 3 (1), 11-16.
16. Noland R.B., Small K.A., Koskenoja P.M., Chu X. Simulating travel reliability. Regional Science and Urban Economics 1998, 28(5):535-564.
17. Small K.A. The scheduling of consumer activities: work trips. The American Economic Review 1982, 72(3):467-479.
18. Snickars F., Weibull J.W. A minimum information principle: theory and practice. Regional Science and Urban Economics 1977, 7(1-2):137-168.
19. Tseng Y.-Y., Verhoef E.T. Value of time by time of day: a stated-preference study. Transportation Research Part B 2008, 42(7-8):607-618.
20. Vickrey W. Pricing, metering, and efficiently using urban transportation facilities. Highway Research Record 1973, 476:36-48.
21. Vickrey W.S. Congestion theory and transport investment. The American Economic Review 1969, 59(2):251-260.
22. Wilson A.G. A statistical theory of spatial distribution models. Transportation Research 1967, 1(3):253-269.
23. Wilson A.G. Entropy in Urban and Regional Modelling 1970, Pion Press, London, UK.