Economics, Econometrics and Finance
8 years ago

New study reveals how drivers' time and reliability values impact road usage.

Transportation Research Part A Policy and Practice
Investigating preference heterogeneity in Value of Time (VOT) and Value of Reliability (VOR) estimation for managed lanes
Md Sakoat Hossan, Hamidreza Asgari, Xia Jin

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The article investigates how different people value their time and reliability when using managed lanes. Data from a survey in South Florida showed that on average, people value their time at 13.55perhourandreliabilityat13.55 per hour and reliability at 13.55perhourandreliabilityat16.13 per hour. Factors like demographics and trip details affect these values differently for each person. Understanding these differences can help improve toll studies, pricing strategies, and policy evaluations.