Estimating the Value of Time and Its Application

Authors

  • Lasmini Ambarwati Department of Civil Engineering, Faculty of Engineering, Brawijaya University
  • Amelia K Indraistuti Department of Civil Engineering, Faculty of Engineering, Diponegoro, Semarang, Indonesia
  • Pretiwindya Kusumawardhani

DOI:

https://doi.org/10.23954/osj.v2i2.639

Keywords:

Value of time, Mode choice approach, Income approach, Modal split, Travelers’ preferences

Abstract

Values of travel time are essential factors in the design of transport infrastructure. The value of time is used in transport models to monetize travel time related to the socio-economic background of travelers. This paper assesses the estimation of the value of time based on questionnaires distributed to travelers in a preference survey. The mode choice approach is employed to estimate these values dependent on vehicle classes for weekdays and at the weekend. Two of the main conclusions using the mode choice approach are that the value of time for private vehicle users is approximately 1.5 times the value of time for public transport users; and the value of travel time on the weekday is twice that of the weekend. This indicates that public transport passengers have more travel time savings than when they use other modes. Another method, the income approach, arrives at similar values of time as that estimated by the mode choice approach. The willingness to use public transport in weekdays is increasing. As a consequence, public transport should be operated at a higher frequency.

References

Henser, D.A. (1977). Value of Business Travel Time. Pergamon, Oxford.

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Jara-Diaz, S Munizaga, M. A., Greeven, P., Guerra, R., Axhausen, K. (2008). Estimating the Value of Leisure from a Time Allocation Model. Transportation Research Part B, 42, 946–957.

Department of Planning and Development of Surabaya. (2007). Master Plan of Surabaya City. Technical Report Surabaya, Indonesia.

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Published

2017-06-21

How to Cite

Ambarwati, L., Indraistuti, A. K., & Kusumawardhani, P. (2017). Estimating the Value of Time and Its Application. Open Science Journal, 2(2). https://doi.org/10.23954/osj.v2i2.639

Issue

Vol. 2 No. 2 (2017): Open Science Journal

Section

Articles

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