Examining the value of travel time reliability for freight transportation to support freight planning and decision-making.

Details

• Creators:
  Jin, Xia ; Shams, Kollol
• Corporate Creators:
  Florida International University
• Corporate Contributors:
  Florida. Department of Transportation ; National Center for Transportation Systems Productivity and Management (U.S.)
• Subject/TRT Terms:
  • Travel time
  • Freight transportation
  • Freight service
  • Schedules and scheduling
  • Transportation planning
  • Value of time Value of Time
  • Value of Reliability
  • Freight
  • User
  • Heterogeneity
  More +
• Resource Type:
  Tech Report
• Geographical Coverage:
  Florida
• Corporate Publisher:
  Florida Department of Transportation
• Abstract:
  This report presents the findings of a valuation study recently conducted in Florida to quantify the ; freight users’ willingness to pay (WTP) for the improvement of transportation-related attributes, ; particularly reliability. A stated preference (SP) survey was developed and administered between ; January and May 2016. The survey collected responses from 150 shippers, carriers, and ; forwarders. After rigorous data checking and validation, econometric models, including mixed and ; multinomial logit models, were developed to estimate the users’ WTP for the improvement of ; transportation time and reliability. Preference heterogeneity in WTP was also explored by ; commodity group, product type, and various other shipment characteristics, including shipping ; distance and weight. ; Model results indicated that the value of reliability (VOR) values ranged from $17.00 to $177.00 ; per shipment-hour and $1.38 to $10.20 per ton-hour, while the value of time (VOT) values ranged ; from $12.00 to $277.00 per shipment-hour and $0.50 to $23.00 per ton-hour among the user ; groups. Carriers were found with the lowest WTP compared to other freight users. The results ; showed large variations in WTP values when user heterogeneity sources were considered. This ; study contributes to the literature by providing empirical evidence in quantifying VOR for freight ; transportation and the impacts of user heterogeneity on the valuation of reliability. The study ; results will help advance the understanding of the impacts of the performance of transportation ; systems on the freight industry. The report also provided a brief discussion on the approaches to ; incorporating VOR in the benefit-cost analysis (BCA) for project evaluation and accommodating ; the effect of unreliability into demand models.
  More +
• Format:
  PDF
• Funding:
  FDOT Project Number BDV29-977-15
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/31708/dot_31708_DS1.pdf
• File Type:
  [PDF - 14.55 MB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha-512:18eeafdd6b4b7d7be8d455b66eaaf6851abb6ee81a36af3e2a4fd95eaeee95af0b2d8b55efc49b9609185642ef0452eeb4d0690e0954c39c9cfa1dcde5546af0