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The value of travel time variance
KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Traffic Research, CTR.ORCID iD: 0000-0002-4531-8659
2011 (English)In: Transportation Research Part B: Methodological, ISSN 0191-2615, Vol. 45, no 1, 1-8 p.Article in journal (Refereed) Published
Abstract [en]

This paper considers the value of travel time variability under scheduling preferences that are defined in terms of linearly time varying utility rates associated with being at the origin and at the destination. The main result is a simple expression for the value of travel time variability that does not depend on the shape of the travel time distribution. The related measure of travel time variability is the variance of travel time. These conclusions apply equally to travellers who can freely choose departure time and to travellers who use a scheduled service with fixed headway. Depending on parameters, travellers may be risk averse or risk seeking and the value of travel time may increase or decrease in the mean travel time.

Place, publisher, year, edition, pages
2011. Vol. 45, no 1, 1-8 p.
Keyword [en]
Value of travel time, Value of travel time variability, Reliability, Scheduling preferences
National Category
Civil Engineering
URN: urn:nbn:se:kth:diva-28174DOI: 10.1016/j.trb.2010.06.001ISI: 000285035600001ScopusID: 2-s2.0-78149497052OAI: diva2:385341
TrenOp, Transport Research Environment with Novel Perspectives
QC 20110111Available from: 2011-01-11 Created: 2011-01-10 Last updated: 2011-11-21Bibliographically approved

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Engelson, Leonid
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