Behind the Subjective Value of Travel Time Savings

By Sergio R. Jara-Díaz, C. Angelo Guevara. Journal of Transport Economics and Policy, 2003

150 citations recorded by the source corpus.

Many travel choice models estimated throughout the world have been used to calculate the full value of travel time savings. Its components, however, have never been estimated quantitatively. This article takes into consideration the fact that travel (mode) choice and activity demand models come from a common microeconomic framework such that their specifications are linked. The authors show that estimating both types of models from the same population makes it possible to obtain all components of the subjective value of travel time savings empirically because the models share some common parameters. This novel approach is experimentally applied using information on travel choices and homework activities for two income groups collected in Santiago, Chile.

Subfields: Economics and Econometrics, Transportation

View Paper: https://www.semanticscholar.org/paper/eef844ed1deafc241c51fadbed804f578b7a12e6

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Citations in the corpus

ESTIMATION OF VALUE OF TRAVEL-TIME SAVINGS USING MIXED LOGIT MODELS (2005, background): “The topic of time allocation and valuation has been the subject of intense study from a variety of different perspectives for several decades (see, among others, Becker 1965, Oort 1969, De Serpa 1971, Evans 1972, Truong & Hensher 1985, Bates 1987 and Jara-Diaz & Guevara 2003).”
A pooled RP/SP mode, route and destination choice model to investigate mode and user-type effects in the value of travel time savings (2019, methodology): “44 The Mobility-Activity-Expenditure-Diary survey design (MAED) was developed to integrate three dif45 ferent survey traditions (travel, time use and expenditure surveys) to accommodate the data requirements 46 of detailed travel, non-travel activities and consumer expenditures from the same individ”
The value of time and external benefits in bicycle appraisal (2012, background): “Jara-Díaz (2003) and Jara-Diaz & Guevara (2003) extend the classic framework into a general time allocation and consumption framework.”
Affordability and Subsidies in Public Urban Transport: What Do We Mean, What Can Be Done? (2008, background): “…by subsidizing public transport, competition between these alternative modes is placed on a level playing field and improves resource allocation.2 The second argument is the presence of economies of scale, known in transport as the Mohring effect (Mohring, 1972; Jara-Díaz and Guevara, 2003).”