Between-mode-differences in the value of travel time: Self-selection or strategic behaviour? |
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| Authors: | Mogens Fosgerau Katrine Hjorth Stéphanie Vincent Lyk-Jensen |
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| Institution: | 1. Department of Transport, Technical University of Denmark, Bygningstorvet 116 Vest, DK-2800 Kgs. Lyngby, Denmark;2. Centre for Transport Studies, Royal Institute of Technology, S-100 44 Stockholm, Sweden;3. Department of Economics, University of Copenhagen, Øster Farimagsgade 5, Building 26, DK-1353 Copenhagen K, Denmark;4. The Danish National Centre for Social Research, Herluf Trolles Gade 11, DK-1052 Copenhagen K, Denmark;1. Transport and Mobility Laboratory (TRANSP-OR), School of Architecture, Civil and Environmental Engineering (ENAC), École Polytechnique Fédérale de Lausanne (EPFL), Lausanne CH-1015, Switzerland;2. Departamento de Ingeniería Civil, Universidad de Chile, Casilla 228-3, Santiago, Chile;1. School of Economics and Business, Norwegian University of Life Sciences (NMBU), P.O. Box 5003, NO-1432 Ås, Norway;2. Institute of Transport Economics (TØI), Gaustadalléen 21, NO-0349 Oslo, Norway;1. Delft University of Technology, Faculty of Civil Engineering and Geosciences, Department of Transport & Planning, P.O. Box 5048, 2600 GA Delft, the Netherlands;2. University of Coimbra, Department of Civil Engineering, CITTA Research Center for Territory, Transports and the Environment, Coimbra, Portugal;3. Delft University of Technology, Faculty of Technology, Policy and Management, Transport and Logistics Group, 2628 BX Delft, the Netherlands;4. TNO and Delft University of Technology, Van Mourik Broekmanweg 6, P.O. Box 49, 2600 AA Delft, the Netherlands;1. Significance, The Hague, The Netherlands;2. Institute for Transport Studies, University of Leeds, Leeds, United Kingdom;3. VU University, Amsterdam, The Netherlands;4. Tinbergen Institute, Amsterdam, The Netherlands;5. Independent Consultant, United Kingdom;6. KiM Netherlands Institute for Transport Policy Analysis, Ministry of Infrastructure and the Environment, The Hague, The Netherlands |
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| Abstract: | 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 modes in the opposite direction of what would be the consequence of differences in comfort. We examine three candidate causes for the observed differences: Comfort effects, self-selection and strategic behaviour of respondents. Using experiments with both the current and an alternative mode we find that the differences in the value of travel time are consistent with self-selection and comfort effects. Moreover, respondents having bus as the current or the alternative mode seem not to value comfort differently across modes. Strategic behaviour seems to play no role. |
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