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The Values of Waiting Time, Travel Time, and a Seat on a Bus

Author

Listed:
  • Herbert Mohring
  • John Schroeter
  • Paitoon Wiboonchutikula

Abstract

Travel-time savings tend to be the dominant benefit of transportation improvements in developed countries. We can infer the values travelers attach to travel time from their choices among services that differ in time and money costs. This study applies maximum-likelihood estimation techniques to ridership survey data from routes on which a schedule of alternating high- and low-fare buses offers passengers an unusually wide range of prices for saving time. The methods we use provide estimates of the population distribution of waiting-time values rather than merely one, or a few, representative values.

Suggested Citation

  • Herbert Mohring & John Schroeter & Paitoon Wiboonchutikula, 1987. "The Values of Waiting Time, Travel Time, and a Seat on a Bus," RAND Journal of Economics, The RAND Corporation, vol. 18(1), pages 40-56, Spring.
    • Handle: RePEc:rje:randje:v:18:y:1987:i:spring:p:40-56
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    1. Kang, Liujiang & Zhu, Xiaoning & Sun, Huijun & Wu, Jianjun & Gao, Ziyou & Hu, Bin, 2019. "Last train timetabling optimization and bus bridging service management in urban railway transit networks," Omega, Elsevier, vol. 84(C), pages 31-44.
    2. Angela S. Bergantino & Etienne Billette de Villemeur & Annalisa Vinella, 2006. "A Model of Partial Regulation in the Maritime Ferry Industry," SERIES 0010, Dipartimento di Economia e Finanza - Università degli Studi di Bari "Aldo Moro", revised Jan 2006.
    3. Angela Stefania Bergantino & Billette de Villemeur, Etienne & Vinella, Annalisa, 2012. "Targeted policy design in transportation: the case of the ferry market," Working Papers 12_5, SIET Società Italiana di Economia dei Trasporti e della Logistica, revised 2012.
    4. Li, Sen & Yang, Hai & Poolla, Kameshwar & Varaiya, Pravin, 2021. "Spatial pricing in ride-sourcing markets under a congestion charge," Transportation Research Part B: Methodological, Elsevier, vol. 152(C), pages 18-45.
    5. Kang, Liujiang & Sun, Huijun & Wu, Jianjun & Gao, Ziyou, 2020. "Last train station-skipping, transfer-accessible and energy-efficient scheduling in subway networks," Energy, Elsevier, vol. 206(C).
    6. Akbar Marvasti, 2006. "A Contingent Valuation of Customer Delay in Medical Services," Eastern Economic Journal, Eastern Economic Association, vol. 32(1), pages 31-45, Winter.
    7. Angela Stefania Bergantino & Billette de Villemeur, Etienne & Vinella, Annalisa, 2012. "Targeted policy design in transportation: the case of the ferry market," Working Papers 1205, SIET Società Italiana di Economia dei Trasporti e della Logistica, revised 2012.
    8. Tétreault, Paul R. & El-Geneidy, Ahmed M., 2010. "Estimating bus run times for new limited-stop service using archived AVL and APC data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(6), pages 390-402, July.
    9. Berman, Matthew D. & Kim, Hong Jin, 1999. "Endogenous On-Site Time In The Recreation Demand Model," 1999 Annual meeting, August 8-11, Nashville, TN 21616, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Kang, Liujiang & Li, Hao & Sun, Huijun & Wu, Jianjun & Cao, Zhiguang & Buhigiro, Nsabimana, 2021. "First train timetabling and bus service bridging in intermodal bus-and-train transit networks," Transportation Research Part B: Methodological, Elsevier, vol. 149(C), pages 443-462.
    11. Dong, Xiaotong & Chow, Joseph Y.J. & Waller, S. Travis & Rey, David, 2022. "A chance-constrained dial-a-ride problem with utility-maximising demand and multiple pricing structures," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 158(C).
    12. Georg Abay & Claude Zehnder, 1992. "Road Pricing für die Agglomeration Bern: Ein Vorschlag," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 128(III), pages 495-510, September.
    13. H Ouwersloot & P Nijkamp & G Pepping, 1997. "Advanced Telematics for Travel Decisions: A Quantitative Analysis of the Stopwatch Project in Southampton," Environment and Planning A, , vol. 29(6), pages 1003-1016, June.
    14. Pilachowski, Joshua Michael, 2009. "An Approach to Reducing Bus Bunching," University of California Transportation Center, Working Papers qt6zc5j8xg, University of California Transportation Center.
    15. Rachel C. W. Wong & Tony W. Y. Yuen & Kwok Wah Fung & Janny M. Y. Leung, 2008. "Optimizing Timetable Synchronization for Rail Mass Transit," Transportation Science, INFORMS, vol. 42(1), pages 57-69, February.
    16. Eyjolfur Sigurdsson & Kristin Siggeirsdottir & Halldor Jonsson & Vilmundur Gudnason & Thorolfur Matthiasson & Brynjolfur Jonsson, 2008. "Early discharge and home intervention reduces unit costs after total hip replacement: results of a cost analysis in a randomized study," International Journal of Health Economics and Management, Springer, vol. 8(3), pages 181-192, September.

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