IDEAS home Printed from https://ideas.repec.org/a/eee/transb/v35y2001i4p391-400.html
   My bibliography  Save this article

Value of travel time: a theoretical legitimization of some nonlinear representative utility in discrete choice models

Author

Listed:
  • Blayac, Thierry
  • Causse, Anne

Abstract

This paper tackles the valuation function of travel time savings. Formally, this valuation function is derived from a nonlinear representative utility which successfully relates DeSerpa and DeSerpa to modal choice within the random utility theory framework. We demonstrate the existence of a theoretical relationship between on the one hand, the value of travel time savings, and on the other one, price, time and income levels. This result is undoubtedly more flexible than the particular case of a single time value which is commonly adopted in practice but requires restrictive assumption of marginal utilities constancy.

Suggested Citation

  • Blayac, Thierry & Causse, Anne, 2001. "Value of travel time: a theoretical legitimization of some nonlinear representative utility in discrete choice models," Transportation Research Part B: Methodological, Elsevier, vol. 35(4), pages 391-400, May.
    • Handle: RePEc:eee:transb:v:35:y:2001:i:4:p:391-400
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0191-2615(99)00056-9
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Jara-Díaz, Sergio R. & Farah, Marcelo, 1987. "Transport demand and users' benefits with fixed income: The goods/leisure trade off revisited," Transportation Research Part B: Methodological, Elsevier, vol. 21(2), pages 165-170, April.
    2. Ben-Akiva, M. & Bolduc, D. & Bradley, M., 1993. "Estimation of Travel Choice Models with Randomly Distributed Values of Time," Papers 9303, Laval - Recherche en Energie.
    3. DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
    4. Bates, John J, 1987. "Measuring Travel Time Values with a Discrete Choice Model: A Note," Economic Journal, Royal Economic Society, vol. 97(386), pages 493-498, June.
    5. DeSerpa, Allan C., 1973. "Microeconomic theory and the valuation of travel time: Some clarification," Regional and Urban Economics, Elsevier, vol. 2(4), pages 401-410.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mickaël Beaud & Thierry Blayac & Maïté Stéphan, 2014. "Measurements and properties of the values of time and reliability," Working Papers 14-06, LAMETA, Universtiy of Montpellier, revised Jul 2014.
    2. Beaud, Mickael & Blayac, Thierry & Stéphan, Maïté, 2016. "The impact of travel time variability and travelers’ risk attitudes on the values of time and reliability," Transportation Research Part B: Methodological, Elsevier, vol. 93(PA), pages 207-224.
    3. Wiktor Budziński, 2015. "The effects of non-constant marginal utility of cost for public goods valuation," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 43.
    4. Vansteenwegen, P. & Van Oudheusden, D., 2007. "Decreasing the passenger waiting time for an intercity rail network," Transportation Research Part B: Methodological, Elsevier, vol. 41(4), pages 478-492, May.
    5. Lo, Ashley Wan-Tzu & Kono, Tatsuhito, 2024. "Measuring gendered values of time for married couples by life stage based on an intertemporal household utility-maximization model," Transportation Research Part B: Methodological, Elsevier, vol. 188(C).
    6. Ozbay, Kaan & Yanmaz-Tuzel, Ozlem, 2008. "Valuation of travel time and departure time choice in the presence of time-of-day pricing," Transportation Research Part A: Policy and Practice, Elsevier, vol. 42(4), pages 577-590, May.
    7. Feriél Adjeroud & Thierry Blayac, 2018. "Bus and carpooling travel time perceptions by users: what about the values of travel time for long-distance trips in France? [Perception du temps de transport par les usagers de l’autocar et du cov," Post-Print hal-02099824, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jara-Díaz, Sergio & Rosales-Salas, Jorge, 2017. "Beyond transport time: A review of time use modeling," Transportation Research Part A: Policy and Practice, Elsevier, vol. 97(C), pages 209-230.
    2. Jokubauskaitė, Simona & Hössinger, Reinhard & Aschauer, Florian & Gerike, Regine & Jara-Díaz, Sergio & Peer, Stefanie & Schmid, Basil & Axhausen, Kay W. & Leisch, Friedrich, 2019. "Advanced continuous-discrete model for joint time-use expenditure and mode choice estimation," Transportation Research Part B: Methodological, Elsevier, vol. 129(C), pages 397-421.
    3. David A. Hensher, 2011. "Valuation of Travel Time Savings," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 7, Edward Elgar Publishing.
    4. Lo, Ashley Wan-Tzu & Kono, Tatsuhito, 2024. "Measuring gendered values of time for married couples by life stage based on an intertemporal household utility-maximization model," Transportation Research Part B: Methodological, Elsevier, vol. 188(C).
    5. Jonas, Eliasson, 2000. "Time and income constraints in discrete choice models with an application to mode choice," MPRA Paper 95801, University Library of Munich, Germany.
    6. Simona Jokubauskaitė & Reinhard Hössinger & Sergio Jara-Díaz & Stefanie Peer & Alyssa Schneebaum & Basil Schmid & Florian Aschauer & Regine Gerike & Kay W. Axhausen & Friedrich Leisch, 2022. "The role of unpaid domestic work in explaining the gender gap in the (monetary) value of leisure," Transportation, Springer, vol. 49(6), pages 1599-1625, December.
    7. Poudel, Niranjan & Singleton, Patrick A., 2024. "Willingness to pay for changes in travel time and work time: A stated choice experiment of US commuters," Research in Transportation Economics, Elsevier, vol. 103(C).
    8. Takita, Toshiaki, 2017. "Information Value and Interregional Input-Output Structure," 14th ITS Asia-Pacific Regional Conference, Kyoto 2017: Mapping ICT into Transformation for the Next Information Society 168545, International Telecommunications Society (ITS).
    9. Ilka Dubernet & Kay W. Axhausen, 2020. "The German value of time and value of reliability study: the survey work," Transportation, Springer, vol. 47(3), pages 1477-1513, June.
    10. Schmid, Basil & Jokubauskaite, Simona & Aschauer, Florian & Peer, Stefanie & Hössinger, Reinhard & Gerike, Regine & Jara-Diaz, Sergio R. & Axhausen, Kay W., 2019. "A pooled RP/SP mode, route and destination choice model to investigate mode and user-type effects in the value of travel time savings," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 262-294.
    11. Sergio Jara-Díaz, 2003. "On the goods-activities technical relations in the time allocation theory," Transportation, Springer, vol. 30(3), pages 245-260, August.
    12. Stephan Brunow & Manuela Gründer, 2013. "The impact of activity chaining on the duration of daily activities," Transportation, Springer, vol. 40(5), pages 981-1001, September.
    13. Tseng, Yin-Yen & Verhoef, Erik T., 2008. "Value of time by time of day: A stated-preference study," Transportation Research Part B: Methodological, Elsevier, vol. 42(7-8), pages 607-618, August.
    14. Jara-Diaz, Sergio, 2020. "Transport and time use: The values of leisure, work and travel," Transport Policy, Elsevier, vol. 86(C), pages 7-13.
    15. Thobani, Mateen., 1981. "Passenger transport in karachi: a nested logit model," ILO Working Papers 992158323402676, International Labour Organization.
    16. Bolduc, Denis & Khalaf, Lynda & Yélou, Clément, 2010. "Identification robust confidence set methods for inference on parameter ratios with application to discrete choice models," Journal of Econometrics, Elsevier, vol. 157(2), pages 317-327, August.
    17. Hensher, David A. & Beck, Matthew J. & Balbontin, Camila, 2021. "What does the quantum of working from home do to the value of commuting time used in transport appraisal?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 153(C), pages 35-51.
    18. Denis Bolduc & Lynda Khalaf & Clément Yélou, 2005. "Identification Robust Confidence Sets Methods for Inference on Parameter Ratios and their Application to Estimating Value-of-Time," Computing in Economics and Finance 2005 48, Society for Computational Economics.
    19. Reinhard Hössinger & Florian Aschauer & Sergio Jara-Díaz & Simona Jokubauskaite & Basil Schmid & Stefanie Peer & Kay W. Axhausen & Regine Gerike, 2020. "A joint time-assignment and expenditure-allocation model: value of leisure and value of time assigned to travel for specific population segments," Transportation, Springer, vol. 47(3), pages 1439-1475, June.
    20. Francisco Javier Amador Morera & Rosa Marina González Marrero, 2005. "Value of Travel Time Savings for University Students and Preference Heterogeneity," Hacienda Pública Española / Review of Public Economics, IEF, vol. 174(3), pages 25-41, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:transb:v:35:y:2001:i:4:p:391-400. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/548/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.