This paper investigates the value of travel time (VOTT) of commuters traveling on toll facilities of the Port Authority of New York and New Jersey (PANYNJ) and the New Jersey Turnpike (NJTPK) in a time-of-day pricing system. The methodology proposed to estimate VOTT develops hierarchical Bayesian mixed logit models using travel surveys conducted as part of evaluation studies of PANYNJ and NJTPK facilities. The proposed approach is a novel method for examining commuters' behavior on the basis of flexible model specifications. Empirical results show that travel time, toll, income, and departure time are statistically significant parameters affecting VOTT of commuters on PANYNJ toll facilities. Mean VOTT estimates are found to be about $16.5/h for PANYNJ E-ZPass peak users and about $15.15/h for PANYNJ E-ZPass off-peak users, with standard deviation estimates close to $6.45/h during peak periods and $5.72/h during off-peak hours. Similarly, mean VOTT estimates are found to be around $16.3/h for NJTPK E-ZPass peak users and about $14.79/h for NJTPK E-ZPass off-peak users, with standard deviation estimates close to $5.48/h during peak periods and $4.56/h during off-peak hours.


    Access

    Download

    Check availability in my library

    Order at Subito €


    Export, share and cite



    Title :

    Value of Travel Time Estimation Using Hierarchical Bayesian Mixed Logit Approach


    Subtitle :

    Toll Facilities in New York and New Jersey


    Additional title:

    Transportation Research Record: Journal of the Transportation Research Board


    Contributors:


    Publication date :

    2010-01-01




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English





    Estimation of Value of Time Using Mixed Logit Models

    National Research Council (U.S.) | British Library Conference Proceedings | 2005


    Estimating the Value of Travel Time Using Mixed Logit Model: A Practical Survey in Nanjing

    Lv, Cheng / Dai, Ling / Huang, Kai et al. | Springer Verlag | 2018


    Values, attitudes and travel behavior: a hierarchical latent variable mixed logit model of travel mode choice

    Paulssen, Marcel / Temme, Dirk / Vij, Akshay et al. | Online Contents | 2013