IDEAS home Printed from https://ideas.repec.org/a/eee/trapol/v36y2014icp105-117.html
   My bibliography  Save this article

Valuation of travel time savings for intercity travel: The Madrid-Barcelona corridor

Author

Listed:
  • Román, Concepción
  • Martín, Juan Carlos
  • Espino, Raquel
  • Cherchi, Elisabetta
  • Ortúzar, Juan de Dios
  • Rizzi, Luis Ignacio
  • González, Rosa Marina
  • Amador, Francisco Javier

Abstract

We derive values of travel time savings (VOT) for the Madrid–Barcelona corridor, linking the two largest cities in Spain, based on the estimation of discrete choice models among the main public transport services in the corridor: air transport, high speed rail (HSR) and bus. The new HSR alternative (which started to operate in February 2008) competes directly with one of the densest airline domestic markets in the world, and its introduction produced substantial improvements in level of service, achieving reductions in travel time of more than 50% over the conventional train.

Suggested Citation

  • Román, Concepción & Martín, Juan Carlos & Espino, Raquel & Cherchi, Elisabetta & Ortúzar, Juan de Dios & Rizzi, Luis Ignacio & González, Rosa Marina & Amador, Francisco Javier, 2014. "Valuation of travel time savings for intercity travel: The Madrid-Barcelona corridor," Transport Policy, Elsevier, vol. 36(C), pages 105-117.
  • Handle: RePEc:eee:trapol:v:36:y:2014:i:c:p:105-117
    DOI: 10.1016/j.tranpol.2014.07.007
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0967070X1400153X
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.tranpol.2014.07.007?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    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. Cascetta, Ennio & Papola, Andrea & Pagliara, Francesca & Marzano, Vittorio, 2011. "Analysis of mobility impacts of the high speed Rome–Naples rail link using withinday dynamic mode service choice models," Journal of Transport Geography, Elsevier, vol. 19(4), pages 635-643.
    2. 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.
    3. Mokhtarian, Patricia L. & Salomon, Ilan, 2001. "How derived is the demand for travel? Some conceptual and measurement considerations," Transportation Research Part A: Policy and Practice, Elsevier, vol. 35(8), pages 695-719, September.
    4. Wardman, Mark, 0. "A review of British evidence on time and service quality valuations," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 37(2-3), pages 107-128, April.
    5. Fosgerau, Mogens & Bierlaire, Michel, 2007. "A practical test for the choice of mixing distribution in discrete choice models," Transportation Research Part B: Methodological, Elsevier, vol. 41(7), pages 784-794, August.
    6. Román, Concepción & Espino, Raquel & Martín, Juan Carlos, 2007. "Competition of high-speed train with air transport: The case of Madrid–Barcelona," Journal of Air Transport Management, Elsevier, vol. 13(5), pages 277-284.
    7. Yao, Enjian & Morikawa, Takayuki, 2005. "A study of on integrated intercity travel demand model," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(4), pages 367-381, May.
    8. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November.
    9. Börjesson, Maria & Eliasson, Jonas, 2014. "Experiences from the Swedish Value of Time study," Transportation Research Part A: Policy and Practice, Elsevier, vol. 59(C), pages 144-158.
    10. Elisabetta Cherchi & Juan Ortúzar, 2006. "Income, Time Effects and Direct Preferences in a Multimodal Choice Context: Application of Mixed RP/SP Models with Non-Linear Utilities," Networks and Spatial Economics, Springer, vol. 6(1), pages 7-23, March.
    11. Jovicic, Goran & Hansen, Christian Overgaard, 2003. "A passenger travel demand model for Copenhagen," Transportation Research Part A: Policy and Practice, Elsevier, vol. 37(4), pages 333-349, May.
    12. Kenyon, Susan & Lyons, Glenn, 2007. "Introducing multitasking to the study of travel and ICT: Examining its extent and assessing its potential importance," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(2), pages 161-175, February.
    13. Concepción Román & Raquel Espino & Juan Martín & Ofelia Betancor & Gustavo Nombela, 2008. "Analyzing Mobility in Peripheral Regions of the European Union: The Case of Canarias-Madeira-Azores," Networks and Spatial Economics, Springer, vol. 8(2), pages 141-160, September.
    14. Lyons, Glenn & Jain, Juliet & Holley, David, 2007. "The use of travel time by rail passengers in Great Britain," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(1), pages 107-120, January.
    15. Axhausen, Kay W. & Hess, Stephane & König, Arnd & Abay, Georg & Bates, John J. & Bierlaire, Michel, 2008. "Income and distance elasticities of values of travel time savings: New Swiss results," Transport Policy, Elsevier, vol. 15(3), pages 173-185, May.
    16. Vicente Inglada & GinÊs de Rus, 1997. "Cost-benefit analysis of the high-speed train in Spain," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 31(2), pages 175-188.
    17. Fosgerau, Mogens, 2006. "Investigating the distribution of the value of travel time savings," Transportation Research Part B: Methodological, Elsevier, vol. 40(8), pages 688-707, September.
    18. Roger Vickerman, 1997. "High-speed rail in Europe: experience and issues for future development," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 31(1), pages 21-38.
    19. David Hensher, 2001. "The valuation of commuter travel time savings for car drivers: evaluating alternative model specifications," Transportation, Springer, vol. 28(2), pages 101-118, May.
    20. Wardman, Mark, 2004. "Public transport values of time," Transport Policy, Elsevier, vol. 11(4), pages 363-377, October.
    21. Mar González-Savignat, 2004. "Competition in Air Transport," Journal of Transport Economics and Policy, University of Bath, vol. 38(1), pages 77-107, January.
    22. Mackie, P.J. & Jara-Díaz, S. & Fowkes, A.S., 0. "The value of travel time savings in evaluation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 37(2-3), pages 91-106, April.
    23. Francisco Amador & Rosa González & Juan Ortúzar, 2005. "Preference Heterogeneity and Willingness to Pay for Travel Time Savings," Transportation, Springer, vol. 32(6), pages 627-647, November.
    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. Hong, Seock-Jin & Najmi, Hossein, 2022. "Impact of High-speed rail on air travel demand between Dallas and Houston applying Monte Carlo simulation," Journal of Air Transport Management, Elsevier, vol. 102(C).
    2. Pařil Vilém & Viturka Milan & Rederer Václav, 2023. "The change of commuting behaviour with planned high-speed railways in Czechia," Review of Economic Perspectives, Sciendo, vol. 23(1), pages 1-13, March.
    3. Duy Chinh Nguyen & Huu Dung Hoang & Huu Tien Hoang & Quang Trung Bui & Lan Phuong Nguyen, 2019. "Modal Preference in Ho Chi Minh City, Vietnam: An Experiment With New Modes of Transport," SAGE Open, , vol. 9(2), pages 21582440198, April.
    4. Henke, Ilaria & Moyano, Amparo & Pagliara, Francesca, 2023. "Influence of high-speed rail on the decentralisation of events from big metropolitan areas to smaller intermediate cities," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).
    5. Maria Börjesson, 2014. "Inter-temporal variation in the travel time and travel cost parameters of transport models," Transportation, Springer, vol. 41(2), pages 377-396, March.
    6. Ibeas, A. & dell’Olio, L. & Bordagaray, M. & Ortúzar, J. de D., 2014. "Modelling parking choices considering user heterogeneity," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 41-49.
    7. Van Acker, Veronique & Kessels, Roselinde & Palhazi Cuervo, Daniel & Lannoo, Steven & Witlox, Frank, 2020. "Preferences for long-distance coach transport: Evidence from a discrete choice experiment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 759-779.
    8. Merkert, Rico & Beck, Matthew, 2017. "Value of travel time savings and willingness to pay for regional aviation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 96(C), pages 29-42.
    9. Zhu, Siying & Jia, Shuai & Sun, Qinghe & Meng, Qiang, 2023. "An empirical study of China–Singapore International Land–Sea Trade Corridor: Analysis from supply and demand sides," Transport Policy, Elsevier, vol. 135(C), pages 1-10.
    10. Moyano, Amparo & Martínez, Héctor S. & Coronado, José M., 2018. "From network to services: A comparative accessibility analysis of the Spanish high-speed rail system," Transport Policy, Elsevier, vol. 63(C), pages 51-60.
    11. Min Su & Weixin Luan & Liuyan Yuan & Rui Zhang & Zhenchao Zhang, 2019. "Sustainability Development of High-Speed Rail and Airline—Understanding Passengers’ Preferences: A Case Study of the Beijing–Shanghai Corridor," Sustainability, MDPI, vol. 11(5), pages 1-19, March.
    12. Chou, Jui-Sheng & Chien, Ya-Ling & Nguyen, Ngoc-Mai & Truong, Dinh-Nhat, 2018. "Pricing policy of floating ticket fare for riding high speed rail based on time-space compression," Transport Policy, Elsevier, vol. 69(C), pages 179-192.
    13. Min Su & Weixin Luan & Zeyang Li & Shulin Wan & Zhenchao Zhang, 2019. "Evolution and Determinants of an Air Transport Network: A Case Study of the Chinese Main Air Transport Network," Sustainability, MDPI, vol. 11(14), pages 1-20, July.
    14. Zhang, Yaoyu & Liu, Jin & Wang, Bo, 2022. "The impact of High-Speed Rails on urban expansion: An investigation using an SDID with dynamic effects method," Socio-Economic Planning Sciences, Elsevier, vol. 82(PB).
    15. Binsuwadan, Jawaher & Wardman, Mark & de Jong, Gerard & Batley, Richard & Wheat, Phill, 2023. "The income elasticity of the value of travel time savings: A meta-analysis," Transport Policy, Elsevier, vol. 136(C), pages 126-136.

    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. Maria Börjesson, 2014. "Inter-temporal variation in the travel time and travel cost parameters of transport models," Transportation, Springer, vol. 41(2), pages 377-396, March.
    2. Börjesson, Maria & Fosgerau, Mogens & Algers, Staffan, 2012. "On the income elasticity of the value of travel time," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(2), pages 368-377.
    3. Small, Kenneth A., 2012. "Valuation of travel time," Economics of Transportation, Elsevier, vol. 1(1), pages 2-14.
    4. Bouscasse, Hélène & de Lapparent, Matthieu, 2019. "Perceived comfort and values of travel time savings in the Rhône-Alpes Region," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 370-387.
    5. Maria Börjesson & Jonas Eliasson, 2019. "Should values of time be differentiated?," Transport Reviews, Taylor & Francis Journals, vol. 39(3), pages 357-375, May.
    6. Kingsley Adjenughwure & Basil Papadopoulos, 2019. "Towards a Fair and More Transparent Rule-Based Valuation of Travel Time Savings," Sustainability, MDPI, vol. 11(4), pages 1-19, February.
    7. Albalate, Daniel & Fageda, Xavier, 2016. "High speed rail and tourism: Empirical evidence from Spain," Transportation Research Part A: Policy and Practice, Elsevier, vol. 85(C), pages 174-185.
    8. Daniel Albalate del sol, 2015. "Evaluating HSR availability on Tourism: Evidence from Spanish Provinces and Cities," ERSA conference papers ersa15p288, European Regional Science Association.
    9. Stephane Hess & Andrew Daly & Maria Börjesson, 2020. "A critical appraisal of the use of simple time-money trade-offs for appraisal value of travel time measures," Transportation, Springer, vol. 47(3), pages 1541-1570, June.
    10. Börjesson, Maria & Eliasson, Jonas, 2014. "Experiences from the Swedish Value of Time study," Transportation Research Part A: Policy and Practice, Elsevier, vol. 59(C), pages 144-158.
    11. Daniel Albalate & Javier Campos & Juan Luis Jiménez, 2015. "“Tourism and high speed rail in Spain: Does the AVE increase local visitors?”," IREA Working Papers 201527, University of Barcelona, Research Institute of Applied Economics, revised Dec 2015.
    12. Rojo, Marta & Gonzalo-Orden, Hernán & dell’Olio, Luigi & Ibeas, Ángel, 2012. "Relationship between service quality and demand for inter-urban buses," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(10), pages 1716-1729.
    13. Dobruszkes, Frédéric & Dehon, Catherine & Givoni, Moshe, 2014. "Does European high-speed rail affect the current level of air services? An EU-wide analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 69(C), pages 461-475.
    14. Adler, Nicole & Pels, Eric & Nash, Chris, 2010. "High-speed rail and air transport competition: Game engineering as tool for cost-benefit analysis," Transportation Research Part B: Methodological, Elsevier, vol. 44(7), pages 812-833, August.
    15. Albalate, Daniel & Bel, Germà & Fageda, Xavier, 2015. "Competition and cooperation between high-speed rail and air transportation services in Europe," Journal of Transport Geography, Elsevier, vol. 42(C), pages 166-174.
    16. Wan, Yulai & Ha, Hun-Koo & Yoshida, Yuichiro & Zhang, Anming, 2016. "Airlines’ reaction to high-speed rail entries: Empirical study of the Northeast Asian market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 94(C), pages 532-557.
    17. Molin, Eric & Adjenughwure, Kingsley & de Bruyn, Menno & Cats, Oded & Warffemius, Pim, 2020. "Does conducting activities while traveling reduce the value of time? Evidence from a within-subjects choice experiment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 18-29.
    18. Cantos-Sánchez, Pedro & Moner-Colonques, Rafael & Sempere-Monerris, José J. & Álvarez-SanJaime, Óscar, 2011. "Viability of new road infrastructure with heterogeneous users," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(5), pages 435-450, June.
    19. 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.
    20. De Borger, Bruno & Fosgerau, Mogens, 2008. "The trade-off between money and travel time: A test of the theory of reference-dependent preferences," Journal of Urban Economics, Elsevier, vol. 64(1), pages 101-115, July.

    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:trapol:v:36:y:2014:i:c:p:105-117. 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/30473/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.