Welcome to ROSA P |
Stacks Logo
Advanced Search
Select up to three search categories and corresponding keywords using the fields to the right. Refer to the Help section for more detailed instructions.
Clear All Simple Search
Advanced Search
Investigating the value of time and value of reliability for managed lanes.
  • Published Date:
  • Language:
Filetype[PDF-760.67 KB]

  • Publication/ Report Number:
  • Resource Type:
  • Geographical Coverage:
  • Abstract:
    This report presents a comprehensive study in Value of Time (VOT) and Value of Reliability (VOR) analysis in the context of managed lane (ML) facilities. Combined Revealed Preference (RP) and Stated Preference (SP) data were used to understand travelers’ choice behavior regarding the usage of MLs. The data were obtained from the South Florida Expressway Stated Preference Survey conducted by the Resource Systems Group, Inc. (RSG), which gathered information from automobile drivers of South Florida who had recently made a trip on I- 75, I-95, or SR 826 corridors. Various modeling and analysis approaches were employed to further reveal user heterogeneity in VOT and VOR. Mixed logit modeling was applied and indicated an average value of $9.41 per hour for VOT and $13.02 per hour for VOR. The model was further enhanced by adding interaction effects of variables, which helped recognize and quantify potential sources of heterogeneity in user sensitivities to time, reliability and cost. The sensitivities were employed to capture the user heterogeneity in VOT and VOR. The findings indicated that various socioeconomic demographic characteristics and trip attributes contributed to the variations in VOT and VOR at different magnitudes. This study provides a robust approach to quantify user heterogeneity in VOT and VOR by incorporating the corresponding interaction effects for specific market segments. The results of this study contribute to a better understanding on what attributes lead to higher or lower VOT and VOR and to what extent. These findings can be incorporated into the demand forecasting process and lead to better estimates and enhanced analytical capabilities in various applications, such as toll feasibility studies, pricing strategy and policy evaluations, and impact analysis, etc.
  • Format:
  • Main Document Checksum:
  • Supporting Files:
    No Additional Files
No Related Documents.
You May Also Like: