The Value of Time and Reliability: Measurement from a Value Pricing Experiment

By Terence C. Lain, Kenneth Small. 2003

470 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Marketing, Transportation

View Paper: https://www.semanticscholar.org/paper/ec15b5c4740176c14d0a69a9c3e3c245b302f483

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Citations in the corpus

A selected review on the negative externalities of the freight transportation: Modeling and pricing (2015, background): “Other formulations of congestion can be found in (e.g., Lam and Small, 2001; Meng et al., 2012; Uchida, 2014).”
The Impact of Stop-Making and Travel Time Reliability on Commute Mode Choice (2006, background): “In contrast to the documented evidence from qualitative and attitudinal surveys on the importance of travel time reliability and alternative theories of travel time reliability effects on travel choices, few empirical studies consider reliability as an attribute affecting commute travel decisions (b”
Risk, uncertainty and discrete choice models (2008, methodology): “The mean variance model used by Lam and Small (2001) was consistently derived from constant absolute risk aversion and log-normal distribution of outcome by Markowitz.”
Part I: Externalities and economic policies in road transport (2010, background): “…Small (2005), Calfee and Winston (1998), De Borger and Fosgerau (2008), Fosgerau (2006), Hensher (2006), Hensher (2008), Hensher and Goodwin (2004), Lam and Small (2001), Mackie et al. (2003), Ramjerdi and Dillen (2007), Steimetz and Brownstone (2005), Tseng and Verhoef (2008), and, Wardman (2001).”
Valuations of travel time variability in scheduling versus mean-variance models (2012, unknown): “…studies have used either the standard deviation of the travel time or the average delay relative to scheduled arrival time, although some studies include both (Bates, Polak, Jones, & Cook, 2001; Batley, 2007), while some studies use percentiles of the travel time distribution (Lam & Small, 2001).”
Valuing travel time variability: Characteristics of the travel time distribution on an urban road (2012, methodology): “…the standard deviation or some11 other measure of the scale of travel time variability as an argument, jointly with mean travel time.12 Because of its simplicity, the mean–variance approach has been widely used (Small et al. 2005;13 Brownstone and Small 2005; Lam and Small 2001, among others).”
Travel through time: the story of research on travel time reliability (2013, background): “Lam and Small (2001) recommended the use of the median travel time rather than the mean travel time, and the 90th percentile travel time rather than the standard deviation.”
Drivers' Willingness-to-Pay to Reduce Travel Time: Evidence from the San Diego I-15 Congestion Pricing Project (2002, methodology): “It would be better to jointly model departure time and mode choice (as in Lam and Small, 2001), but our data are not detailed enough to support this more general model.”
Analytic Relationships between Travel Time Reliability Measures (2011, background): “In another example, Lam and Small found that the difference between the 90th percentile and the median is a good measure to assess the value of travel time reliability in a value pricing case study (14).”