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Valuing Freight Transport Time using Transport Demand Modelling: A Bibliographical Review

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  • María Feo-Valero
  • Leandro García-Menéndez
  • Rodrigo Garrido-Hidalgo

Abstract

The value of time for freight transport is of major importance in infrastructure-related cost–benefit analysis and yet its study has been largely neglected when compared with its passenger counterpart. In fact, one of the attributes that could decide the profitability of a project is how much can be saved if freight vehicles use new infrastructure. Despite being the primary benefit of most investments in transport infrastructure, researchers have not yet reached agreement over either the size or the nature of the values of time that should be used when evaluating projects. This article provides a review of the estimation of freight value of time through transport demand modelling and extant empirical evidence on this topic. Similarly, the bibliographic review of studies undertaken has allowed us to pinpoint the most critical issues when modelling freight transport demand and the position of various research teams regarding these aspects. Such issues include identifying the decision-maker, heterogeneity in the transport flows and transport attributes considered by decision-makers.

Suggested Citation

  • María Feo-Valero & Leandro García-Menéndez & Rodrigo Garrido-Hidalgo, 2011. "Valuing Freight Transport Time using Transport Demand Modelling: A Bibliographical Review," Transport Reviews, Taylor & Francis Journals, vol. 31(5), pages 625-651.
    • Handle: RePEc:taf:transr:v:31:y:2011:i:5:p:625-651
    DOI: 10.1080/01441647.2011.564330
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    Citations

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    Cited by:

    1. Santos, Tiago A. & Guedes Soares, C., 2019. "Container terminal potential hinterland delimitation in a multi-port system subject to a regionalization process," Journal of Transport Geography, Elsevier, vol. 75(C), pages 132-146.
    2. Vega, Amaya & Feo-Valero, Maria & Espino-Espino, Raquel, 2018. "The potential impact of Brexit on Ireland's demand for shipping services to continental Europe," Transport Policy, Elsevier, vol. 71(C), pages 1-13.
    3. Boris Goenaga & Victor Cantillo, 2020. "Willingness to pay for freight travel time savings: contrasting random utility versus random valuation," Transportation, Springer, vol. 47(2), pages 705-736, April.
    4. Zhuo Zhang & Dezhi Zhang & Lóránt A. Tavasszy & Qinglin Li, 2020. "Multicriteria Intermodal Freight Network Optimal Problem with Heterogeneous Preferences under Belt and Road Initiative," Sustainability, MDPI, vol. 12(24), pages 1-24, December.
    5. Johansson, Magnus & Vierth, Inge & Holmgren, Kristina & Cullinane, Kevin, 2023. "How will electrification and increased use of new fuels affect the effectiveness of freight modal shift policies?," Working Papers 2023:4, Swedish National Road & Transport Research Institute (VTI).
    6. Engelson, Leonid & Fosgerau, Mogens, 2016. "The cost of travel time variability: Three measures with properties," Transportation Research Part B: Methodological, Elsevier, vol. 91(C), pages 555-564.
    7. Jawaher Binsuwadan & Gerard De Jong & Richard Batley & Phill Wheat, 2022. "The value of travel time savings in freight transport: a meta-analysis," Transportation, Springer, vol. 49(4), pages 1183-1209, August.
    8. Bray, Garrett & Cebon, David, 2022. "Operational speed strategy opportunities for autonomous trucking on highways," Transportation Research Part A: Policy and Practice, Elsevier, vol. 158(C), pages 75-94.
    9. Massiani, Jérôme, 2014. "A micro founded approach to the valuation of benefits of freight travel time savings," Research in Transportation Economics, Elsevier, vol. 47(C), pages 61-69.
    10. Santos, Tiago A. & Martins, P. & Soares, C. Guedes, 2021. "The impact of container terminal relocation on hinterland geography," Journal of Transport Geography, Elsevier, vol. 92(C).
    11. Gustavo Alberto Zambrano, 2016. "El transporte modal de carga fluvial: Un estudio de la reactivación del río Magdalena," Revista Economía y Región, Universidad Tecnológica de Bolívar, vol. 10(2), pages 183-217, December.
    12. Woodburn, Allan, 2019. "Rail network resilience and operational responsiveness during unplanned disruption: A rail freight case study," Journal of Transport Geography, Elsevier, vol. 77(C), pages 59-69.
    13. Kurtuluş, Ercan & Çetin, İsmail Bilge, 2020. "Analysis of modal shift potential towards intermodal transportation in short-distance inland container transport," Transport Policy, Elsevier, vol. 89(C), pages 24-37.
    14. Vega, Amaya & Feo-Valero, Maria & Espino-Espino, Raquel, 2021. "Understanding maritime transport route choice among Irish exporters: A latent class approach," Research in Transportation Economics, Elsevier, vol. 90(C).
    15. Phill Wheat & Alexander D. Stead & Yue Huang & Andrew Smith, 2019. "Lowering Transport Costs and Prices by Competition: Regulatory and Institutional Reforms in Low Income Countries," Sustainability, MDPI, vol. 11(21), pages 1-19, October.
    16. Bartlomiej Rokicki & Eduardo A. Haddad & Jonathan M. Horridge & Marcin Stępniak, 2021. "Accessibility in the regional CGE framework: the effects of major transport infrastructure investments in Poland," Transportation, Springer, vol. 48(2), pages 747-772, April.
    17. Vega, Amaya & Evers, Natasha, 2016. "Understanding the implications of the UK HGV road usercharge for Irish maritime freight transport stakeholders," Working Papers 262593, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    18. Shinya Hanaoka & Takuma Matsuda & Wataru Saito & Tomoya Kawasaki & Takashi Hiraide, 2021. "Identifying Factors for Selecting Land over Maritime in Inter-Regional Cross-Border Transport," Sustainability, MDPI, vol. 13(3), pages 1-17, January.
    19. Garrido, Rodrigo A. & Lamas, Patricio & Pino, Francisco J., 2015. "A stochastic programming approach for floods emergency logistics," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 75(C), pages 18-31.

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