A pooled RP/SP mode, route and destination choice modeling approach to capture the heterogeneity of mode and user type effects in Austria (original) (raw)

2017

Abstract

Motivation and objectives Mode choice models have been extensively used to evaluate policy implications and level-of-service changes, providing a powerful tool in transport planning for developing effective travel demand forecasts (Bhat, 1998). As a key valuation indicator, the value of travel time has always been subject to extensive debate in both academia and politics, because savings in travel time have accounted for the biggest share of user benefits in most cost-benefit analysis. Following Jara-Diaz and Guevara (2003), the value of travel time is the sum of two components: 1) the subjective value of travel time savings (VTTS), representing the willingness to reduce travel time in favor of other activities that generate more utility and 2) the direct (dis)-utility derived from the time assigned to travel (VTAT). The sum of these components equals the value of time as a resource (VOR), which is the marginal utility of an additional unit of leisure. VTTS and VTAT both may differ ...

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