Travel mode choice models may not accurately estimate value of time
The article reviews research on how people choose their mode of transportation and estimate the value of their time. It criticizes current models for not considering all factors that influence decision-making, like habits and shortcuts in thinking. The review suggests that these factors affect the results of transportation choice models. It also questions the accuracy of using these models to calculate the value of time saved during travel. The study highlights the need to include more factors in transportation choice models and raises doubts about the current methods used to estimate the value of time.