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Travel time reliability benefits: Allowing for correlation

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  • Nicholson, Alan

Abstract

The economies in developed countries depend heavily on their transport systems. That dependence has increased with the adoption of ‘just-in-time’ production methods, which involve reducing the costs associated with holding goods in stock and relying on required goods being delivered promptly once ordered. This has meant an increased emphasis on the reliability of the service and increased efforts to mitigate the impacts of disruption of road transport networks, and has led to changes in reliability being included within economic appraisals of road network improvement projects that are expected to result in an improvement in reliability.

Suggested Citation

  • Nicholson, Alan, 2015. "Travel time reliability benefits: Allowing for correlation," Research in Transportation Economics, Elsevier, vol. 49(C), pages 14-21.
    • Handle: RePEc:eee:retrec:v:49:y:2015:i:c:p:14-21
    DOI: 10.1016/j.retrec.2015.04.002
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    References listed on IDEAS

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    3. A.J. Nicholson, 2007. "Road network unreliability: impact assessment and mitigation," International Journal of Critical Infrastructures, Inderscience Enterprises Ltd, vol. 3(3/4), pages 346-375.
    4. Giacomini, Raffaella & Granger, Clive W. J., 2004. "Aggregation of space-time processes," Journal of Econometrics, Elsevier, vol. 118(1-2), pages 7-26.
    5. Bates, John & Polak, John & Jones, Peter & Cook, Andrew, 0. "The valuation of reliability for personal travel," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 37(2-3), pages 191-229, April.
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    Cited by:

    1. Krzysztof Ostrowski & Marcin Budzynski, 2021. "Measures of Functional Reliability of Two-Lane Highways," Energies, MDPI, vol. 14(15), pages 1-20, July.
    2. Borzou Rostami & Guy Desaulniers & Fausto Errico & Andrea Lodi, 2021. "Branch-Price-and-Cut Algorithms for the Vehicle Routing Problem with Stochastic and Correlated Travel Times," Operations Research, INFORMS, vol. 69(2), pages 436-455, March.
    3. Taylor, Michael A.P., 2017. "Fosgerau's travel time reliability ratio and the Burr distribution," Transportation Research Part B: Methodological, Elsevier, vol. 97(C), pages 50-63.
    4. Zhang, Rong & Jian, Wenliang & Tavasszy, Lóránt, 2018. "Estimation of network level benefits of reliability improvements in intermodal freight transport," Research in Transportation Economics, Elsevier, vol. 70(C), pages 1-8.

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    More about this item

    Keywords

    Travel time; Reliability; Estimation; Benefits; Correlation;
    All these keywords.

    JEL classification:

    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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