We formulate a model of reference-dependent preferences based on the marginal rate of
substitution at the reference-point of a reference-free utility function. Using binary choices on …

This paper provides an overview of the study 'Provision of market research for value of time
savings and reliability'undertaken by the Arup/ITS Leeds/Accent consortium for the UK …

Understanding route choice behavior is crucial to explain travelers' preferences and to
predict traffic flows under different scenarios. A growing body of literature has concentrated …

Savings in travel time and more specifically their monetary value typically constitute the main
benefit to justify major investment in transport schemes. However, worthwhile use of travel …

The valuation of travel time is of crucial importance in many transport decisions. Most studies
make use of data framed around short-term decisions such as route choice. However …

Passengers' walking time and waiting time at metro stations are important indicators for
evaluating the level of service (LOS) of a metro station. This paper aims to estimate …

Using stated preference survey data, we measure the value of travel time for several
transport modes. We find, like many before us, that the value of travel time varies across …

This paper identifies, relates and compares two popular modelling approaches to estimate
the value of travel time changes. The first (random utility [RU]) assumes that the random …

Path choice modelling is typically conducted by considering a subset of paths, not the
universal set of all feasible paths as this is computationally challenging. This study proposes …

This paper identifies and illustrates the theoretical connection between the Random
Valuation (RV) and Random Utility (RU) methods for Value of Travel Time Changes (VTTC) …