Valuation of Travel Time and TravelIer Information

Piet Rietveld

Research output: Working paperProfessional

Abstract

The value of travel time plays an important role in cost benefit analysis of infrastructureprojects. However, the issue of uncertainty on travel times and the implications this has forestimations of travel time values has received much less attention in the literature. In thispaper we compare various modelling approaches to address uncertainty and demonstrate thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in public transport where various trip components may have differentvaluations and degrees of uncertainty. Our approach sheds light among others on the hightime valuations for waiting at transfer points in public transport. Implications are given for thesupply of travelIer information on values of travel time in public transport.
Original languageEnglish
Place of PublicationAmsterdam
PublisherTinbergen Instituut
Publication statusPublished - 2003

Publication series

NameDiscussion paper TI
No.03-036/3

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valuation
travel time
public transport
cost-benefit analysis
modeling

Cite this

Rietveld, P. (2003). Valuation of Travel Time and TravelIer Information. (Discussion paper TI; No. 03-036/3). Amsterdam: Tinbergen Instituut.
Rietveld, Piet. / Valuation of Travel Time and TravelIer Information. Amsterdam : Tinbergen Instituut, 2003. (Discussion paper TI; 03-036/3).
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Rietveld, P 2003 'Valuation of Travel Time and TravelIer Information' Discussion paper TI, no. 03-036/3, Tinbergen Instituut, Amsterdam.

Valuation of Travel Time and TravelIer Information. / Rietveld, Piet.

Amsterdam : Tinbergen Instituut, 2003. (Discussion paper TI; No. 03-036/3).

Research output: Working paperProfessional

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Rietveld P. Valuation of Travel Time and TravelIer Information. Amsterdam: Tinbergen Instituut. 2003. (Discussion paper TI; 03-036/3).