Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Published in:
Big Data Security on Cloud Servers Using Data Fragmentation Technique and NoSQL Database Read chapter Read first chapter

2019 | OriginalPaper | Chapter

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

Authors : Cheng Lv, Ling Dai, Kai Huang, Zhiyuan Liu

Published in: Intelligent Interactive Multimedia Systems and Services

Publisher: Springer International Publishing

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

Value of travel time (VOTT) is a fundamental index in transportation economics, which represents the trip cost that the travelers are willing to pay for saving their travel time, working as a communicator between money and time. VOTT is of great importance in urban transportation planning and traffic forecasting as VOTT of travelers will impact on their traveling mode, frequency and routes. VOTT is calculated by estimating the ratio of the utility function on travel time and cost. The model is specified through logit regression analysis. In this paper, a stated preference survey on the VOTT of travelers is conducted in Nanjing, China. We adopt mixed logit model, which is a flexible model that allows the parameters to vary across the population and is not restricted by the IIA property, to perform the regression, and analyze the distribution of VOTT.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
previous chapter Pricing of Shared-Parking Lot: An Application of Hotelling Model
next chapter Validation of an Optimization Model Based Stochastic Traffic Flow Fundamental Diagram
Literature
1.
Liu, Z., Meng, Q., Wang, S.: Speed-based toll design for cordon-based congestion pricing scheme. Transp. Res. Part C 31, 83–98 (2013)CrossRef
2.
Liu, Z., Wang, S., Meng, Q.: Optimal joint distance and time toll for cordon-based congestion pricing. Transp. Res. Part B 69, 81–97 (2014)CrossRef
3.
Liu, Z., Wang, S., Zhou, B., Cheng, Q.: Robust optimization of distance-based tolls in a network considering stochastic day to day dynamics. Transp. Res. Part C 79, 58–72 (2017)CrossRef
4.
Chen, J., Liu, Z., Zhu, S., Wang, W.: Design of limited-stop bus service with capacity constraint and stochastic travel time. Transp. Res. Part E 83, 1–15 (2015)CrossRef
5.
Liu, Z., Yan, Y., Qu, X., Zhang, Y.: Bus stop-skipping scheme with random travel time. Transp. Res. Part C 35, 46–56 (2013)CrossRef
6.
Liu, Z., Wang, S., Chen, W., Zheng, Y.: Willingness to board: a novel concept for modeling queuing up passengers. Transp. Res. Part B 90, 70–82 (2016)CrossRef
7.
Athira, I.C., Muneera, C.P., Krishnamurthy, K., Anjaneyulu, M.V.L.R.: Estimation of value of travel time for work trips. Transp. Res. Procedia 17, 116–123 (2016)CrossRef
8.
Wang, F.: Study on behavior value of time based on stated preference survey (Master’s thesis). Beijing University of Technology (2005)
9.
Kockelman, D.K., Chen, T.D., Larsen, D.K., Nichols, B.: The economics of transportation systems: a reference for practitioners. University of Texas (2013)
10.
Becker, G.S.: A theory of the allocation of time. Econ. J. 75, 493–517 (1965)CrossRef
11.
Johnson, M.B.: Travel time and the price of leisure. Econ. Inq. 4(2), 135–145 (1966)CrossRef
12.
De Serpa, A.: A theory of the economics of time. Econ. J. 81, 828–846 (1971)CrossRef
13.
Cesario, F.J.: Value of time in recreation benefit studies. Land Econ. 52(1), 32 (1976)CrossRef
14.
Daly, A.J., Zachary, S.: Commuters’ value of time. Transportation Research Record (1975)
15.
Mcfadden, D.L.: Conditional logit analysis of qualitative choice behavior. In: Frontiers in Econometrics (1972)
16.
Boyd, J.H., Mellman, R.E.: The effect of fuel economy standards on the US automotive market: an hedonic demand analysis. Transp. Res. Part A 14(5–6), 367–378 (1980)CrossRef
17.
Cardell, N.S., Dunbar, F.C.: Measuring the societal impacts of automobile downsizing. Transp. Res. Part A 14(5–6), 423–434 (1980)CrossRef
18.
Ben-Akiva, M., Bolduc, D., Bradley, M.: Estimation of travel model choice models with randomly distributed values of time. Transp. Res. Rec. 1413, 88–97 (1993)
19.
Greene, W.H., Hensher, D.A., Rose, J.: Accounting for heterogeneity in the variance of unobserved effects in mixed logit models. Transp. Res. Part B 40, 75–92 (2006)CrossRef
20.
Train, K.: Mixed logit with a flexible mixing distribution. J. Choice Model. 19(2000), 40–53 (2016)CrossRef
21.
Devarasetty, P.C., Burris, M., Shaw, W.D.: The value of travel time and reliability-evidence from a stated preference survey and actual usage. Transp. Res. Part A 46(8), 1227–1240 (2012)
22.
Algers, S., Bergström, P., Dahlberg, M., Dillén, J.L.: Mixed logit estimation of the value of travel time. Working Paper, Department of Economics, Uppsala University (1998)
23.
Li, R., Lin, D.K., Chen, Y.: Uniform design: design, analysis and applications. Int. J. Mater. Prod. Technol. 20(1), 101–114 (2004)CrossRef
24.
Train, K.E.: Discrete Choice Methods with Simulation. Cambridge University Press, Cambridge (2009)
25.
Qiao, C.G., Wood, G.R., Lai, C.D., Luo, D.W.: Comparison of two common estimators of the ratio of the means of independent normal variables in agricultural research. Adv. Decis. Sci. 2006, 14 (2006)
Metadata
Title
Estimating the Value of Travel Time Using Mixed Logit Model: A Practical Survey in Nanjing
Authors
Cheng Lv
Ling Dai
Kai Huang
Zhiyuan Liu
Copyright Year
2019
Book
Intelligent Interactive Multimedia Systems and Services

Print ISBN: 978-3-319-92230-0

Electronic ISBN: 978-3-319-92231-7

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-319-92231-7_33

Premium Partner

    Image Credits