The value of service reliability |
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| Institution: | 1. Faculty of Chinese Medicine, Macau University of Science and Technology and State Key Laboratory of Quality Research in Chinese Medicine (Macau University of Science and Technology), Taipa, Macao, PR China;2. Basic Medical College, Guizhou University of Traditional Chinese Medicine, Guian District, Guiyang, Guizhou, PR China;3. Key Laboratory of Plant Ex-situ Conservation and Research Center of Resource Plant, Lushan Botanical Garden, Chinese Academy of Science, Jiujiang City, Jiangxi Province, PR China;4. School of Pharmaceutical Sciences, Hunan University of Medicine, Huaihua, Hunan, PR China;5. Guangdong Provincial Hospital of Chinese Medicine, Guangdong Provincial Academy of Chinese Medical Sciences, State Key Laboratory of Dampness Syndrome of Chinese Medicine, Second Affiliated Hospital of Guangzhou University of Chinese Medicine, Guangdong-Hong Kong-Macau Joint Lab on Chinese Medicine and Immune Disease Research, Guangzhou, Guangdong, PR China;6. Joint Laboratory for Translational Cancer Research of Chinese Medicine of the Ministry of Education of the People''s Republic of China, Guangzhou University of Chinese Medicine, Guangzhou, Guangdong, PR China;1. TNO, Anna van Buerenplein 1, 2595 DA The Hague, The Netherlands |
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| Abstract: | This paper studies the impact of service frequency and reliability on the choice of departure time and the travel cost of transit users. When the user has (α, β, γ) scheduling preferences, we show that the optimal head start decreases with service reliability, as expected. It does not necessarily decrease with service frequency, however. We derive the value of service headway (VoSH) and the value of service reliability (VoSR), which measure the marginal effect on the expected travel cost of a change in the mean and in the standard deviation of headways, respectively. The VoSH and the VoSR complete the value of time and the value of reliability for the economic appraisal of public transit projects by capturing the specific link between headways, waiting times, and congestion. An empirical illustration is provided, which considers two mass transit lines located in the Paris area. |
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| Keywords: | Public transportation Reliability Headway Scheduling Welfare |
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