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Route choice and the value of commuting time: An economic model of dichotomous choice

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  • McDonald, John F.

Abstract

This paper presents an economic model of generalized travel cost and provides an empirical study of the parameters of the cost function. The route-choice model that is estimated combines McFadden's theory of qualitative choice behavior with a function for the value of travel time in which total trip time and the income level are assumed to influence the marginal value of time. The empirical results indicate that, for a sample of commuters in the Chicago metropolitan area in 1972, the value of time is a positive function of total trip time, but is not a function of income.

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  • McDonald, John F., 1983. "Route choice and the value of commuting time: An economic model of dichotomous choice," Transportation Research Part B: Methodological, Elsevier, vol. 17(6), pages 463-470, December.
    • Handle: RePEc:eee:transb:v:17:y:1983:i:6:p:463-470
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    Cited by:

    1. Hong, Sung Hyo & Lee, Bun Song & McDonald, John F., 2018. "Commuting time decisions for two-worker households in Korea," Regional Science and Urban Economics, Elsevier, vol. 69(C), pages 122-129.
    2. Paul W. Wilson, 1989. "Scheduling Costs and the Value of Travel Time," Urban Studies, Urban Studies Journal Limited, vol. 26(3), pages 356-366, June.
    3. McDonald, John F. & Osuji, Clifford I., 1995. "The effect of anticipated transportation improvement on residential land values," Regional Science and Urban Economics, Elsevier, vol. 25(3), pages 261-278, June.

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