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On the value of highway travel time information systems

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  • Soriguera, Francesc

Abstract

After the widespread deployment of Advanced Traveler Information Systems, there exists an increasing concern about their profitability. The costs of such systems are clear, but the quantification of the benefits still generates debate. This paper analyzes the value of highway travel time information systems. This is achieved by modeling the departure time selection and route choice with and without the guidance of an information system. The behavioral model supporting these choices is grounded on the expected utility theory, where drivers try to maximize the expected value of their perceived utility. The value of information is derived from the reduction of the unreliability costs as a consequence of the wiser decisions made with information. This includes the reduction of travel times, scheduling costs and stress. This modeling approach allows assessing the effects of the precision of the information system in the value of the information.

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  • Soriguera, Francesc, 2014. "On the value of highway travel time information systems," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 294-310.
    • Handle: RePEc:eee:transa:v:70:y:2014:i:c:p:294-310
    DOI: 10.1016/j.tra.2014.10.005
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    3. Zhaoqi Zang & Xiangdong Xu & Kai Qu & Ruiya Chen & Anthony Chen, 2022. "Travel time reliability in transportation networks: A review of methodological developments," Papers 2206.12696, arXiv.org, revised Jul 2022.
    4. Han, Xiao & Yu, Yun & Gao, Zi-You & Zhang, H. Michael, 2021. "The value of pre-trip information on departure time and route choice in the morning commute under stochastic traffic conditions," Transportation Research Part B: Methodological, Elsevier, vol. 152(C), pages 205-226.
    5. Dan Wan & Camille Kamga & Wei Hao & Aaron Sugiura & Eric B. Beaton, 2016. "Customer satisfaction with bus rapid transit: a study of New York City select bus service applying structural equation modeling," Public Transport, Springer, vol. 8(3), pages 497-520, December.
    6. Md Matiur Rahman & Lina Kattan & S. C. Wirasinghe, 2018. "Trade-offs between headway, fare, and real-time bus information under different weather conditions," Public Transport, Springer, vol. 10(2), pages 217-240, August.
    7. Guang Yang & Xinwang Liu, 2018. "A commuter departure-time model based on cumulative prospect theory," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 87(2), pages 285-307, April.

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