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The value of reliability
KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Transport Studies, CTS.
KTH, School of Architecture and the Built Environment (ABE), Transport and Economics (closed 20110301), Transport and Location Analysis (closed 20110301).ORCID iD: 0000-0001-5290-6101
2010 (English)In: Transportation Research Part B: Methodological, ISSN 0191-2615, E-ISSN 1879-2367, Vol. 44, no 1, p. 38-49Article in journal (Refereed) Published
Abstract [en]

We derive the value of reliability in the scheduling of an activity of random duration, such as travel under congested conditions. Using a simple formulation of scheduling utility, we show that the maximal expected utility is linear in the mean and standard deviation of trip duration, regardless of the form of the standardised distribution of trip durations. This insight provides a unification of the scheduling model and models that include the standard deviation of trip duration directly as an argument in the cost or utility function. The results generalise approximately to the case where the mean and standard deviation of trip duration depend on the starting time. An empirical illustration is provided.

Place, publisher, year, edition, pages
2010. Vol. 44, no 1, p. 38-49
Keyword [en]
Welfare, Random duration, Time, Scheduling, Reliability, Variability
National Category
Civil Engineering
Identifiers
URN: urn:nbn:se:kth:diva-10788DOI: 10.1016/j.trb.2009.05.002ISI: 000272762600004Scopus ID: 2-s2.0-71549139119OAI: oai:DiVA.org:kth-10788DiVA, id: diva2:227972
Note

QC 20101004. Uppdaterad från In press till Published (20101004).

Available from: 2009-07-22 Created: 2009-07-22 Last updated: 2017-12-13Bibliographically approved

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Karlström, Anders

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  • apa
  • harvard1
  • ieee
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  • de-DE
  • en-GB
  • en-US
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  • nn-NO
  • nn-NB
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  • Other locale
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Output format
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