scholarly journals The valuation and demand impacts of the worthwhile use of travel time with specific reference to the digital revolution and endogeneity

2019 ◽  
Vol 47 (3) ◽  
pp. 1515-1540 ◽  
Author(s):  
Mark Wardman ◽  
Phani Chintakayala ◽  
Chris Heywood
Keyword(s):  
Travel Time ◽  
Specific Reference ◽  
Digital Revolution ◽  
Use Of Time ◽  
Individual Variations ◽  
Travel Time Savings ◽  
Time Savings ◽  
Large Survey ◽  
The Impact ◽  
Over Time

Abstract The research reported here is concerned with how the worthwhile use of travel time might impact on the value of travel time savings (VTTS) and on demand set in the context of the rail travel market in Great Britain. It has long been recognised, in a variety of literature, that improvements in worthwhile activities which will have been delivered by the digital revolution will impact VTTS and demand yet there is surprisingly little reliable evidence and official appraisal practice does not accommodate any such effects. In a large survey of rail travellers, we have explored how activities while travelling impact on VTTS and demand. An important feature of the study was to account for endogeneity whereby variations in VTTS estimates according to the worthwhile use of time are biased if drawn from comparisons across individuals of what they do while travelling rather from comparing within individual variations in activities. Indeed, we clearly demonstrate the impact of not allowing for endogeneity and indicate its presence in other studies. We find that the VTTS does vary according to activities undertaken while travelling in a largely credible manner and is broadly consistent with behavioural responses to different available activities. The evidence supports the VTTS falling over time due to the digital revolution and rail demand increasing. These are modest rather than considerable changes but nonetheless contribute a better understanding of evidence relating to VTTS and rail demand variations over time.

Illustrating the Monetary Impact of Transportation Projects/Alternatives using the Values of Travel Time and Travel Time Reliability

2018 ◽  
Vol 2672 (51) ◽  
pp. 88-98 ◽  
Author(s):  
Venkata R. Duddu ◽  
Srinivas S. Pulugurtha ◽  
Praveena Penmetsa
Keyword(s):  
Travel Time ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Transportation Systems ◽  
Travel Time Reliability ◽  
Benefit Analysis ◽  
Transportation Projects ◽  
Travel Time Savings ◽  
Time Savings ◽  
The Impact

State agencies, regional agencies, cities, towns, and local municipalities design and maintain transportation systems for the benefit of users by improving mobility, reducing travel time, and enhancing safety. Cost–benefit analysis based on travel time savings and the value of reliability helps these agencies in prioritizing transportation projects or when evaluating transportation alternatives. This paper illustrates the use of monetary values of travel time savings and travel time reliability, computed for the state of North Carolina, to help assess the impact of transportation projects or alternatives. The results obtained indicate that, based on the illustration of the effect and impact of various transportation projects or alternatives, both improved travel time and reliability on roads yield significant monetary benefits. However, from cost–benefit analysis, it is observed that greater benefits can be achieved through improved reliability compared with benefits from a decrease in travel time for a given section of road.

Quantifying the Impact of the COVID-19 Pandemic on Passenger Vehicle Drivers’ Willingness to Pay for Travel Time Savings and Reliability

2021 ◽  
pp. 036119812110388
Author(s):  
Tristan Cherry ◽  
Mark Fowler ◽  
Claire Goldhammer ◽  
Jeong Yun Kweun ◽  
Thomas Sherman ◽  
...  
Keyword(s):  
Willingness To Pay ◽  
Travel Time ◽  
Travel Behavior ◽  
Local Governments ◽  
Consumer Preferences ◽  
Stated Preference ◽  
Travel Time Reliability ◽  
Travel Time Savings ◽  
Time Savings ◽  
The Impact

The COVID-19 pandemic has fundamentally disrupted travel behavior and consumer preferences. To slow the spread of the virus, public health officials and state and local governments issued stay-at-home orders and, among other actions, closed nonessential businesses and educational facilities. The resulting recessionary effects have been particularly acute for U.S. toll roads, with an observed year-over-year decline in traffic and revenue of 50% to 90% in April and May 2020. These disruptions have also led to changes in the types of trip that travelers make and their frequency, their choice of travel mode, and their willingness to pay tolls for travel time savings and travel time reliability. This paper describes the results of travel behavior research conducted on behalf of the Virginia Department of Transportation before and during the COVID-19 pandemic in the National Capital Region of Washington, D.C., Maryland, and Northern Virginia. The research included a stated preference survey to estimate travelers’ willingness to pay for travel time savings and travel time reliability, to support forecasts of traffic and revenue for existing and proposed toll corridors. The survey collected data between December 2019 and June 2020. A comparison of the data collected before and during the pandemic shows widespread changes in travel behavior and a reduction in willingness to pay for travel time savings and travel time reliability across all traveler types, particularly for drivers making trips to or from work. These findings have significant implications for the return of travelers to toll corridors in the region and future forecasts of traffic and revenue.

scholarly journals How Autonomous Driving May Affect the Value of Travel Time Savings for Commuting

2018 ◽  
Vol 2672 (46) ◽  
pp. 11-20 ◽  
Author(s):  
Felix Steck ◽  
Viktoriya Kolarova ◽  
Francisco Bahamonde-Birke ◽  
Stefan Trommer ◽  
Barbara Lenz
Keyword(s):  
Travel Time ◽  
Public Transportation ◽  
Autonomous Vehicle ◽  
Autonomous Driving ◽  
Future Research ◽  
Related Factors ◽  
Travel Time Savings ◽  
Time Savings ◽  
The Impact ◽  
Privately Owned

Autonomous driving is being discussed as a promising solution for transportation-related issues and might bring some improvement for users of the system. For instance, especially high mileage commuters might compensate for some of their time spent traveling as they will be able to undertake other activities while going to work. At the same time, there are still many uncertainties and little empirical data on the impact of autonomous driving on mode choices. This study addresses the impact of autonomous driving on value of travel time savings (VTTS) and mode choices for commuting trips using stated-choice experiments. Two use cases were addressed – a privately owned, and a shared autonomous vehicle – compared with other modes of transportation. The collected data were analyzed by performing a mixed logit model. The results show that mode-related factors such as time elements, especially in-vehicle time and cost, play a crucial role for mode choices that include autonomous vehicles. The study provides empirical evidence that autonomous driving may lead to a reduction in VTTS for commuting trips. It was found that driving autonomously in a privately owned vehicle might reduce the VTTS by 31% compared with driving manually, and is perceived similarly to in-vehicle time in public transportation. Furthermore, riding in a shared autonomous vehicle is perceived 10% less negatively than driving manually. The study provides important insights into VTTS by autonomous driving for commuting trips and could be a base for future research to build upon.

scholarly journals Evaluating Financing Mechanisms and Economic Benefits to Fund Grade Separation Projects

2021 ◽  
Author(s):  
Shailesh Chandra ◽  
Mehran Rahmani ◽  
Timothy Thai ◽  
Vivek Mishra ◽  
Jacqueline Camacho
Keyword(s):  
Real Estate ◽  
Travel Time ◽  
Economic Benefits ◽  
Rail Transportation ◽  
Emissions Reductions ◽  
Travel Time Savings ◽  
Time Savings ◽  
Grade Crossings ◽  
Grade Separation ◽  
The Impact

Investment in transportation infrastructure projects generates benefits, both direct and indirect. While emissions reductions, crash reductions, and travel time savings are prominent direct benefits, there are indirect benefits in the form of real estate enhancements that could pay off debt or loan incurred in the improvement of the infrastructure itself. Studies have shown that improvements associated with rail transportation (such as station upgrades) trigger an increase in the surrounding real estate values, increasing both the opportunity for monetary gains and, ultimately, property tax collections. There is plenty of available guidance that provides blueprints for benefits calculations for operational improvements in rail transportation. However, resources are quite limited in the analysis of benefits that accrue from the separation of railroad at-grade crossings. Understanding the impact of separation in a neighborhood with high employment or population could generate revenues through increased tax collections. In California, the research need is further amplified by a lack of guidance from the California Public Utilities Commission (CPUC) on at-grade crossing for separation based on revenue generated. There is a critical need to understand whether grade separation projects could impact neighboring real estate values that could potentially be used to fund such separations. With COVID-19, as current infrastructure spending in California is experiencing a reboot, an approach more oriented to benefits and costs for railroad at-grade separation should be explored. Thus, this research uses a robust benefits-to-cost analysis (BCA) to probe the economic impacts of railroad at-grade separation projects. The investigation is carried out across twelve railroad-highway at-grade crossings in California. These crossings are located at Francisquito Ave., Willowbrook/Rosa Parks Station, Sassafras St., Palm St., Civic Center Dr., L St., Spring St. (North), J St., E St., H St., Parkmoor West, and Nursery Ave. The authors found that a majority of the selected at-grade crossings analyzed accrue high benefits-to-cost (BC) ratios from travel time savings, safety improvements, emissions reductions, and potential revenue generated if property taxes are collected and used to fund such separation projects. The analysis shows that with the estimated BC ratios, the railroad crossing at Nursery Ave. in Fremont, Palm St. in San Diego, and H St. in Chula Vista could be ideal candidates for separation. The methodology presented in this research could serve as a handy reference for decision-makers selecting one or more at-grade crossings for the separation considering economic outputs and costs.

Simulation Modeling of Electronic Screening at Weigh Stations

1998 ◽  
Vol 1613 (1) ◽  
pp. 57-62 ◽  
Author(s):  
Alireza Kamyab ◽  
Tom Maze ◽  
Mark Nelson ◽  
Bill McCall
Keyword(s):  
Travel Time ◽  
Simulation Modeling ◽  
Regulatory Compliance ◽  
Efficient System ◽  
Motor Carrier ◽  
Motor Carriers ◽  
Electronic Screening ◽  
Travel Time Savings ◽  
Time Savings ◽  
The Impact

Electronic screening of trucks before reaching points of regulatory compliance checks (typically, weigh stations) would allow for more efficient use of government resources while reducing travel time for motor carriers. A study was done of the effects of electronic screening on reducing travel time and enhancing productivity of the weigh station using a new simulation model. The model illustrates the impact of electronic screening on motor carrier travel time savings and weigh station productivity assuming various levels of transponder-equipped vehicles. The results indicate that as participation grows, enforcement agencies and participating (transponder-equipped) and nonparticipating trucks all share in the benefits afforded by a more efficient system.

Using GTFS to Calculate Travel Time Savings Potential of Bus Preferential Treatments

2021 ◽  
pp. 036119812110092
Author(s):  
Daniel Arias ◽  
Kara Todd ◽  
Jennifer Krieger ◽  
Spencer Maddox ◽  
Pearse Haley ◽  
...  
Keyword(s):  
Travel Time ◽  
Planning Process ◽  
Operating Cost ◽  
Flow Characteristics ◽  
Travel Time Savings ◽  
Bus Lane ◽  
Time Savings ◽  
Bus Network ◽  
Bus Networks ◽  
Transit Agencies

Dedicated bus lanes and other transit priority treatments are a cost-effective way to improve transit speed and reliability. However, creating a bus lane can be a contentious process; it requires justification to the public and frequently entails competition for federal grants. In addition, more complex bus networks are likely to have unknown locations where transit priority infrastructure would provide high value to riders. This analysis presents a methodology for estimating the value of bus preferential treatments for all segments of a given bus network. It calculates the passenger-weighted travel time savings potential for each inter-stop segment based on schedule padding. The input data, ridership data, and General Transit Feed Specification (GTFS) trip-stop data are universally accessible to transit agencies. This study examines the 2018 Metropolitan Atlanta Rapid Transit Authority (MARTA) bus network and identifies a portion of route 39 on Buford Highway as an example candidate for a bus lane corridor. The results are used to evaluate the value of time savings to passengers, operating cost savings to the agency, and other benefits that would result from implementing bus lanes on Buford Highway. This study does not extend to estimating the cost of transit priority infrastructure or recommending locations based on traffic flow characteristics. However, it does provide a reproducible methodology to estimate the value of transit priority treatments, and it identifies locations with high value, all using data that are readily available to transit agencies. Conducting this analysis provides a foundation for beginning the planning process for transit priority infrastructure.

scholarly journals The value of travel time savings in freight transport: a meta-analysis

2021 ◽  
Author(s):  
Jawaher Binsuwadan ◽  
Gerard De Jong ◽  
Richard Batley ◽  
Phill Wheat
Keyword(s):  
Travel Time ◽  
Cost Benefit Analysis ◽  
Meta Analysis ◽  
Cost Benefit ◽  
Freight Transport ◽  
Survey Respondent ◽  
Analysis Method ◽  
Marginal Rate ◽  
Travel Time Savings ◽  
Time Savings

AbstractThe value of freight travel time savings (VFTTS) is a monetary value that is considered an important input into cost–benefit analysis and traffic forecasting. The VFTTS is defined as the marginal rate of substitution between travel time and cost and may therefore differ across firms, time and countries. The paper aims to explain variations in the VFTTS by using the meta-analysis method. The analysis covers 106 monetary valuations extracted from 56 studies conducted from 1988 to 2018 in countries across the globe. The meta-analysis method determines the factors that have an impact on these VFTTS variations. The paper briefly introduces the VFTTS concept and describes the adopted meta-analysis methodology, wherein different meta-models are used in VFTTS estimations. The results highlight the necessity of including multiple explanatory variables to ensure adequate explanation of the VFTTS variations. The findings also show that GDP per capita, transport mode and type of survey respondent are statistically significant variables. The paper sheds some light on the variations, thereby advancing the understanding of each factor’s effects on the VFTTS. Furthermore, meta-model outcomes are used to generate new values of travel time savings for different transport modes in freight transport, for several countries. These implied VFTTS can be used as benchmarks to assess existing evidence or provide new evidence to countries where no such values exist.

scholarly journals The effect of health benefits on the value of travel time savings in active transport

2021 ◽  
Vol 21 ◽  
pp. 101074
Author(s):  
Stefan Flügel ◽  
Knut Veisten ◽  
Hanne Beate Sundfør ◽  
Guri Natalie Jordbakke ◽  
Nina Hulleberg ◽  
...  
Keyword(s):  
Travel Time ◽  
Active Transport ◽  
Health Benefits ◽  
Travel Time Savings ◽  
Time Savings
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