scholarly journals Value of Time for Commercial Vehicle Operators

2010 ◽  
Author(s):  
Brian Smalkoski ◽  
David Levinson
Keyword(s):  
Commercial Vehicle ◽  
Stated Preference ◽  
Tobit Model ◽  
Trucking Industry ◽  
Value Of Time ◽  
Distribution Of Values ◽  
Survey Interviews

Value of time was estimated for commercial vehicle operators in Minnesota to quantify the effects of spring load restrictions. A sample was constructed from several trucking industry sources to conduct a survey. Interviews were conducted using an adaptive stated preference (ASP) survey to derive an estimate to the nearest dollar. A tobit model was fit to the data from the interviews to derive the estimate for value of time, $49.42 per hour. Variation in the distribution of values is explained in part by fleet operation: whether the firm operates as a for-hire carrier or a private carrier.

scholarly journals Estimation of the value of time for automated driving using revealed and stated preference methods

2018 ◽  
Vol 31 ◽  
pp. 35-46 ◽  
Author(s):  
Viktoriya Kolarova ◽  
Felix Steck ◽  
Rita Cyganski ◽  
Stefan Trommer
Keyword(s):  
Stated Preference ◽  
Value Of Time ◽  
Automated Driving ◽  
Stated Preference Methods

Perceived Value of Time for Truck Operators

2000 ◽  
Vol 1725 (1) ◽  
pp. 31-36 ◽  
Author(s):  
Kazuya Kawamura
Keyword(s):  
Travel Time ◽  
Cost Estimation ◽  
Logit Model ◽  
Stated Preference ◽  
Perceived Value ◽  
Value Of Time ◽  
Data Sets ◽  
Preference Data ◽  
Stated Preference Data ◽  
Population Comparisons

Value of time for trucks was estimated from stated preference data collected in California. Truckers were asked about a choice between an existing free road versus a toll facility for different combinations of travel time and cost. Estimation was based on the point of diversion at which the switch of facility occurred in the stated preference questions and also on the use of a modified logit model in which the coefficients to be estimated were assumed to be distributed lognormally across the population. Comparisons between data sets that were segmented according to business type, shipment size, and the method of driver compensation indicated that for-hire trucks tend to have higher values of time than private ones and the companies that pay drivers hourly wages have higher values of time than those who pay commissions or fixed salary.

scholarly journals Travel Time Cost for Private Car in Bumi Serpong Damai (BSD) City: Income and Mode Choice Approach

2017 ◽  
Vol 4 (2) ◽  
pp. 99
Author(s):  
Resdiansyah Mansyur ◽  
Fredy Jhon Philip.S
Keyword(s):  
Travel Time ◽  
Stated Preference ◽  
Mode Choice ◽  
Background Information ◽  
Value Of Time ◽  
Operational Cost ◽  
Time Cost ◽  
Income Approach ◽  
Private Car ◽  
Choice Approach

Abstract : Travel time cost is one of the primary aspects that considered, especially with respect to its economic impact. To account for the increment of road users, often travel time cost has to be highlighted and further investigated. One technique to compute travel time costs is by using travel time evaluation as a loss opportunity that used to produce traveling needs. The aim of the study is to compute travel time cost for the private transportation users in BSD City by employing two methodologies. Income approach is the first method, which requires only two factors to be computed (capital income and amount of annual working hour assuming that time used to produce one product as function of personal income). For mode choice approach, the method uses the travel time cost from the model to estimate the choices comparison from the specified mode traffic. In this model, comparisons of choices are assumed as a function of two independent variables; operational cost and time cost. Travel time cost is defined as the comparison between parameter of travel time cost against the operational cost. Additionally, the study adopted stated preference techniques surveys, which have been undertaken in BSD town area to derive the travel time cost. The survey focused on the private car passengers where background information collected were traveling distance, time of travel, journey characteristics, education level, employment and income of the respondents respectively. Subjects were asked to choose between different scenarios of mode choices. For income approach method, the results showed that the travel time cost for the private transport commuters was Rp 6,272 / hour/ person and Rp. 11,828 / hour / person by using mode choice approach. It was found that the value of time has increased as the income increases. Thus, value of time is significant in accounting for personal income.Keywords : Income, Mode Choice, Stated Preference

scholarly journals Valuing Changes in Time Use in Low- and Middle-Income Countries

2018 ◽  
Vol 10 (S1) ◽  
pp. 51-72 ◽  
Author(s):  
Dale Whittington ◽  
Joseph Cook
Keyword(s):  
Time Use ◽  
Stated Preference ◽  
Critical Element ◽  
Value Of Time ◽  
Middle Income ◽  
Middle Income Countries ◽  
Health Clinics ◽  
Time Changes ◽  
Economic Analyses ◽  
Low And Middle Income

Valuing changes in time use is often a critical element of economic analyses of development projects. In this paper we review the literature on the monetary value of time in low- and middle-income countries and find support for a commonly used benchmark of 50% of after-tax wages for time changes in activities in the informal sector, such as collecting water or traveling to health clinics. We offer recommendations to analysts who are conducting benefit-cost analyses in these settings about what methods they can use to estimate the value of time. These include a benefits transfer approach and also a relatively simple stated preference approach that might be deployed in a specific context if the project recommendation is sensitive to the assumption of the value of time or if the distribution of the benefits of time savings is especially important.

Value of Time in Freight Transport in Finland

2000 ◽  
Vol 1725 (1) ◽  
pp. 26-30 ◽  
Author(s):  
Jari Kurri ◽  
Ari Sirkiä ◽  
Juha Mikola
Keyword(s):  
Stated Preference ◽  
Road Transport ◽  
Freight Transport ◽  
Rail Transport ◽  
Transport Cost ◽  
Value Of Time ◽  
Manufacturing Companies ◽  
Transport Time ◽  
Average Delay ◽  
Average Value

In the socioeconomic evaluation of transportation investments affecting freight transport in Finland, no value of time is currently attributable to the freight itself. In order to estimate freight-specific values of time for road and rail transport, two separate studies using the same methodology were carried out. Stated preference technique—in which hypothetical choice situations between two road or rail transport alternatives were presented to transport managers in manufacturing companies in Finland—was used. Values of the attributes presented were based on the present transport in question. Level of service was characterized by three variables: transport time, transport cost, and reliability of the service (frequency and duration of unexpected delays). Personal interviews were carried out using a portable computer. The relative importance of the factors (i.e., values of transport time and delays) was derived from logit models. According to the survey, the average value of time for road transport for the selected commodity groups is about $1.5 per metric ton per hour, and the value of average delay is about $47 per metric ton per hour. For rail transport and different commodity groups, the average value of transport time is about $0.10, and the value of average delay is about $0.5 per metric ton per hour. These results stress the importance of the reliability of transport time. The values of transport time were considerably higher than those in the corresponding Swedish studies but lower than the values in several other studies.

Some Evidence of Travelers with Zero Value of Time

2003 ◽  
Vol 1854 (1) ◽  
pp. 107-113 ◽  
Author(s):  
A. J. Richardson
Keyword(s):  
Travel Behavior ◽  
Marginal Utility ◽  
Stated Preference ◽  
Small Addition ◽  
Value Of Time ◽  
Use Of Time ◽  
Survey Technique ◽  
Derived Demand ◽  
Public Mode ◽  
Over Time

A small but growing body of evidence that questions the traditional view that travel is a derived demand is beginning to be assembled. Rather than assuming that all the positive components of a trip are contained in the activity at the destination, while the trip itself contains only dis-utility, a view is emerging that perhaps some people actually enjoy the travel component of the trip or at least are not willing to pay for reductions in the duration of the trip. One small addition to the patchwork of studies that are starting to form a basis for challenging the conventional assumption about positive value of time (VOT) is provided. By using the results obtained from a study of VOT in Singapore that used an adaptive stated preference survey technique, it was found that 23% of public mode users in that study had zero VOT, whereas 0% of private mode users in Singapore had zero VOT. Analysis of the characteristics of those with zero VOT shows either that they had lower incomes or that they had a greater degree of flexibility in their use of time. Some recent studies that have considered changes in VOT over time, in which there are indications that the marginal utility of time has been decreasing over time (because of increased free time, the increased utility of time spent traveling because of improved telecommunications, and a range of other factors), are also described. The implications of the findings are described in terms of the modeling of travel behavior and the evaluation of transport proposals.

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