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.

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.

scholarly journals Travel Time Savings Perception and Well-Being through Public Transport Projects: The Case of Metro de Santiago

Urban Science ◽  
2019 ◽  
Vol 3 (1) ◽  
pp. 35
Author(s):  
Cristobal Pineda ◽  
Beatriz Lira
Keyword(s):  
Life Satisfaction ◽  
Travel Time ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Well Being ◽  
Travel Times ◽  
Benefit Analysis ◽  
Travel Time Savings ◽  
Time Savings ◽  
Travel Satisfaction

Relying mostly on travel time savings, cost-benefit analysis has been widely used in transport project appraisals in the Chilean context, with utility maximisation theory as its background. Nevertheless, subjective well-being advocates have challenged the notion of the rational man underlying this theory by proposing that other trip attributes, individual perceptions and personal features mediate satisfaction with travel, alongside global well-being. Using the recently-opened Line 6 of Metro de Santiago (Chile) as a case study, this research has two main aims: (1) to verify to what extent travel time savings, which support the cost-benefit analysis process, are present after the launching of the new line; and (2) analyse the perception of passengers’ travel time savings, and to what extent this element contributes to the travel satisfaction and to the global well-being at the individual level. Using passive data from smart cards, the results show that travel times decreased by 14% in comparable trips after the launching of Line 6. Furthermore, a confirmatory factor analysis (CFA) construct is proposed, including travel and life satisfaction as latent variables of the model. This revealed that travel times in the Metro system are highly valued by people. However, this element does not mediate travel satisfaction, as users take low travel times for granted. Waiting times, stations’ design, safety and intermodality are perceived attributes that effectively mediate travel satisfaction. Moreover, the latter variable has a relevant influence on global life satisfaction, revealing that transport conditions mediate in day-to-day well-being. These results challenged travel time savings as the most important driver in transport projects’ appraisal processes, and some recommendations are made in order to incorporate these findings in future appraisals.

An international meta-analysis of values of travel time savings

2009 ◽  
Vol 32 (4) ◽  
pp. 315-325 ◽  
Author(s):  
J.D. Shires ◽  
G.C. de Jong
Keyword(s):  
Travel Time ◽  
Meta Analysis ◽  
Travel Time Savings ◽  
Time Savings

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 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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