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:
  Freight Freight Service Freight Transportation Heterogeneity Planning Framework Schedules And Scheduling Transportation Planning Travel Time User Value Of Reliability Value Of Time Value Of Time Willingness-to-pay

  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.
  
  
• Format:
  PDF
• Funding:
  FDOT Project Number BDV29-977-15
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha-512:18eeafdd6b4b7d7be8d455b66eaaf6851abb6ee81a36af3e2a4fd95eaeee95af0b2d8b55efc49b9609185642ef0452eeb4d0690e0954c39c9cfa1dcde5546af0
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/31708/dot_31708_DS1.pdf
• File Type:
  [PDF - 14.55 MB ]