Value of leisure time based on individuals' mode choice behavior

Values of time have been defined in various forms such as value of leisure time (shadow price of time), value of travel time, and value of saving time, and are mostly measured based on individuals' travel choice behavior. The main purpose of this study is to estimate the value of leisure time by general mode choice models. The estimated level can be used to evaluate the benefits from the increasing leisure time gained by people in Taiwan after the government has practiced a series of policies to shorten employee's working hours in the last few years. To justify the application, this study reviews and reinterprets the theoretical results of some major works on value of time derivations. Then to practically estimate the value of leisure time, it suggests a method of combining revealed preference and stated preference data for application. Finally, it conducts an empirical study on travelers' mode choices behavior in Taiwan to carry out the method suggested. The value of leisure time is estimated at 56NT$ per hour (around 1.65US$/hr), which is even lower than the minimum wage rate regulated by Taiwan government.     

Theoretical analysis on the variation of value of travel time savings

This paper theoretically examines whether and how the value of travel time savings changes with the travel and individual socio-economic environments. A time allocation model for the general case of travel behavior is proposed following a review of basic theories of the value of time. Under some general assumptions, changes of value of travel time savings with travel time, travel cost, wage rate, and work time are examined by the comparative static analysis. Differences between the variation of the value of travel time savings and value of time as a resource are also discussed. The results provide the variation mechanisms of the value of time and verify some of the results of empirical studies.     

基于价值函数的城市绿色交通规划评价

为了评价城市绿色交通,建立了城市绿色交通评价体系,包括环保性指标等3个评价项目和道路绿化率等8个评价指标,文章通过案例分析发现,价值函数法适用于城市绿色交通评价。采用专家打分法确定指标权重系数,并对指标进行无量纲化、同趋向化等处理,采用价值函数法计算评价体系得分。     

On the value of highway travel time information systems

After the widespread deployment of Advanced Traveler Information Systems, there exists an increasing concern about their profitability. The costs of such systems are clear, but the quantification of the benefits still generates debate. This paper analyzes the value of highway travel time information systems. This is achieved by modeling the departure time selection and route choice with and without the guidance of an information system. The behavioral model supporting these choices is grounded on the expected utility theory, where drivers try to maximize the expected value of their perceived utility. The value of information is derived from the reduction of the unreliability costs as a consequence of the wiser decisions made with information. This includes the reduction of travel times, scheduling costs and stress. This modeling approach allows assessing the effects of the precision of the information system in the value of the information.Different scenarios are simulated in a generic but realistic context, using empirical data measured on a highway corridor accessing the city of Barcelona, Spain. Results show that travel time information only has a significant value in three situations: (1) when there is an important scheduled activity at the destination (e.g. morning commute trips), (2) in case of total uncertainty about the conditions of the trip (e.g. sporadic trips), and (3) when more than one route is possible. Information systems with very high precision do not produce better results. However, an acceptable level of precision is completely required, as information systems with very poor precision may even be detrimental. The paper also highlights the difference between the user value and the social value of the information. The value of the information may not benefit only the user. For instance, massive dissemination of travel time information contributes to the reduction of day-to-day travel time variance. This favors all drivers, even those without information. In these situations travel time information has the property that its social benefits exceed private benefits (i.e. information has positive externalities). Of course, drivers are only willing to cover costs equal or smaller than their private benefits, which in turn may justify subsidies for information provision.     

Route choice and the value of commuting time: An economic model of dichotomous choice

This paper presents an economic model of generalized travel cost and provides an empirical study of the parameters of the cost function. The route-choice model that is estimated combines McFadden's theory of qualitative choice behavior with a function for the value of travel time in which total trip time and the income level are assumed to influence the marginal value of time. The empirical results indicate that, for a sample of commuters in the Chicago metropolitan area in 1972, the value of time is a positive function of total trip time, but is not a function of income.     

再生沥青混合料理论最大相对密度确定方法研究

再生沥青混合料内部孔隙较多,掺入的旧料为沥青与集料裹合物,依据规范现有的计算法与试验法难以确定其理论最大相对密度。基于沥青混合料理论最大相对密度计算法和实测法测定原理,通过新拌不同级配类型的沥青混合料,建立理密计算值与实测值关系系数,以再生沥青混合料实测值计算真实值,修正再生沥青混合料理密计算和试验公式。     

对在基坑围护工程设计中应用价值工程理论的探讨

针对目前基坑围护工程设计中的成本控制问题，介绍了通过应用价值工程理论控制基坑围护成本的方法。通过探索，把价值工程理论和方法运用在整个基坑围护设计过程中，使设计更加安全可靠、经济合理，并能有效控制和降低成本。     

管道机械接头密封性能的有限元分析

设计了管道机械接头,利用管接头件的弹塑性变形进行管道间的连接。分析了管接头的密封原理及影响其连接密封性能的主要因素,并以2″管道机械接头为例,通过建立有限元模型,运用有限元方法,对管接头的抗内压过程进行了数值模拟。有限元模拟得出该管接头承受的极限内压值为18MPa,大于其15 MPa的设计工作内压值,结果显示该管接头的设计工作内压值较其模拟的极限内压值更趋保守,表明该管道接头能够实现管道间的牢固连接,密封性能可靠。     

The value of travel time variance

This paper considers the value of travel time variability under scheduling preferences that are defined in terms of linearly time varying utility rates associated with being at the origin and at the destination. The main result is a simple expression for the value of travel time variability that does not depend on the shape of the travel time distribution. The related measure of travel time variability is the variance of travel time. These conclusions apply equally to travellers who can freely choose departure time and to travellers who use a scheduled service with fixed headway. Depending on parameters, travellers may be risk averse or risk seeking and the value of travel time may increase or decrease in the mean travel time.     

Estimation of value of travel time reliability

In mode choice decision, travelers consider not only travel time but also reliability of its modes. In this paper, reliability was expressed in terms of standard deviation and maximum delay that were measured based on triangular distribution. In order to estimate value of time and value of reliability, the Multinomial and Nested Logit models were used. The analysis results revealed that reliability is an important factor affecting mode choice decisions. Elasticity is used to estimate the impacts of the different policies and system improvements for water transportation mode. Among these policies, decision maker can assess and select the best alternative by doing the benefit and cost analysis based on a new market share, the value of time, and the value of reliability. Finally, a set of promising policies and system improvement of the water transportation were proposed.     

The marginal social cost of headway for a scheduled service

This brief paper derives the marginal social cost of headway for a scheduled service, i.e. the cost for users of marginal increases to the time interval between departures. In brief we may call it the value of headway in analogy with the value of travel time and the value of reliability. Users have waiting time costs as well as schedule delay costs measured relative to their desired time of arrival at the destination. They may either arrive at the station to choose just the next departure or they may plan for a specific departure in which case they incur also a planning cost. Then planning for a specific departure is costly but becomes more attractive at longer headways. Simple expressions for the user cost result. In particular, the marginal cost of headway is large at short headways and smaller at long headways. The difference in marginal costs is the value of time multiplied by half the headway.     

Making time count: Traveler activity engagement on urban transit

In practice, travel time is assigned a cost and treated as a disutility to be minimized. There is a growing body of research supporting the hypothesis that travel time has some value of its own, and the proliferation of information and communication technology (ICT) may be contributing to that value. Travelers’ attitudes are confounded with their mode choice, and as telecommunications mediate travel behavior, analysts must recognize the interaction between time use and customer satisfaction for appropriate travel demand management. To that end, this paper presents results from jointly estimated models of travelers’ latent satisfaction and on-board activity engagement using Chicago transit rider data gathered in April 2010. The simple questionnaire and small sample corroborate the findings of past research indicating travel attitudes and activity engagement have potential to influence travelers’ value of time, and many transit riders consider transit a better use of time and/or money than driving. The findings affirm the need for a more holistic understanding of value of time for travel demand management and infrastructure valuation. As time use has an influence on users’ valuation of the transit mode, offering opportunities to conduct certain leisure activities could improve the perceived value of travel time.     

高压燃气管道储气能力分析

高压燃气管道储气能力与两端压力和管长有着密切的联系.为了得到高压管道的储气量与压力和管长的关系,利用稳态仿真模型,采用四阶龙格-库塔法对模型进行求解,对求出的沿线压力进行线性拟合,得到沿线压力变化公式.结合储气定义推导出储气量与管长的关系式,并得到实例验证.从关系式来看,当管长等于最优管长时储气量最大.     

A dichotomous choice survey for quantifying option and non-use values of bus services in Korea

The total economic value for a transportation service consists of use, option, and non-use value. The use benefit is based on a traveler’s willingness to pay for usual consumption of the service. The optional value, on the other hand, is related to the possible use of the service for trips not yet anticipated or currently accommodated by other travel modes. The non-use value, however, is derived from the intrinsic merit of the service, even though a trip-maker never actually or potentially depends on the mode. A closed-ended contingent valuation method is considered for the quantification of the option and non-use values. A survey of single- and double-bounded dichotomous choices is conducted with a case study of South Korean bus operations. A logistic regression model and a survival analysis for the single- and double-bounded approaches, respectively, are applied. The estimation result is examined according to the statistical property required and the behavioral validity expected. In particular, three issues from the output are discussed. First, the results help to show the preferable framework between single- and double-bounded surveys for addressing an individual’s option and non-use values. Second, the differences in the absolute values of option and non-use values are compared. Thirdly, the relationship between trip-makers’ willingness to pay and the level of service of their primary travel modes are investigated. In conclusion, the summary of research and the possibilities for future studies are given.     

Congestion tolling in the bottleneck model with heterogeneous values of time

When analysing the effects of transport policies it is important to adequately control for heterogeneity: previous studies note that ignoring heterogeneity biases the estimated welfare effects of tolling. This paper examines the effects of tolling, in a bottleneck model, with a continuously distributed value of time. With homogeneous users, first-best public tolling has no effect on prices. With heterogeneity it does: low values of time lose, and high values of time gain. The average congestion externality decreases with the heterogeneity in the value of time. Consequently, the welfare gain of first-best tolling also decreases. The more heterogeneous the value of time is, the lower the relative efficiency of a public pay-lane. This finding contrasts with the previous literature. Earlier studies, using static flow congestion, conclude that the relative efficiency increases with this type of heterogeneity. With more heterogeneity in the value of time, the relative efficiency of a private pay-lane is also lower, while that of a public time-invariant toll is higher. Our results suggest that the welfare gains of different tolling schemes are affected differently by heterogeneity. Further, the impact of heterogeneity on the effects of a policy also depends on the type of congestion considered.     

Timing rules for major transportation investments

The timing decision for major transportation investments – when to build – typically is made without an objective approach for considering the economic value of implementation at different times. This paper uses a model of benefit-cost analysis and derives rules for timing major transportation investments. Three sets of conditions are considered, depending on whether annual benefits of an investment are uncertain and whether the objective is to maximize net present value or simply to achieve positive net present value. The timing rules under each set of conditions are stated in three forms: benefit-cost ratio, annual benefits, and implementation time. The paper compares these timing rules analytically, discusses potential applications, and illustrates them with a numerical example. Consequences of incorrectly using the timing rules are also examined with the example. This revised version was published online in June 2006 with corrections to the Cover Date.     

Well-to-wheel analysis for electric, diesel and hydrogen traction for railways

This paper derives the energy efficiencies and CO₂ emissions for electric, diesel and hydrogen traction for railway vehicles on a well-to-wheel basis, using the low heating value and high heating value of the enthalpy of oxidation of the fuel. The tank-to-wheel and well-to-tank efficiency are determined. Gaseous hydrogen has a WTW efficiency of 25% low heating value, if produced from methane and used in a fuel cell. This efficiency is similar to diesel and electric traction in the UK, US, and California. A reduction of about 19% in CO₂ is achieved when hydrogen gas is used in a fuel cell compared to diesel traction, and a 3% reduction compared to US electricity.     

天然气管网的初始流量分配

在对天然气管网进行离线数值模拟计算时,需要给各管段分配初始流量,作为迭代计算的初始值。根据管道的流动状态多在阻力平方区的特点,建立初始流量分配的数学模型,用C 语言编制出计算程序。对实例进行计算和分析,表明用最小平方和法求解各管段初始流量时,不需手工预分初始流量,也不需预先确定各管段流体流动方向,求解所得初始值接近真实值,使数值计算的收敛速度大大提高。     

Investigating structural relationships between service quality,perceived value,satisfaction, and behavioral intentions for air passengers: Evidence from Taiwan

This study aims to investigate the relationships between service quality, perceived value, satisfaction, and behavioral intentions for air passengers through a structural equation model (SEM). The main study’s results are as follows. Service expectation has a significantly positive effect on perceived performance, but not on perceived value and satisfaction. Perceived performance has a significantly positive effect on perceived value, but not on satisfaction. Perceived value has a significantly positive effect on satisfaction. Both perceived value and satisfaction have significantly positive effects on behavioral intentions. In addition, perceived performance reveals the indirect effect on satisfaction moderated by perceived value. Finally, perceived value reveals a larger effect than overall satisfaction on behavioral intentions. Specific theoretical and managerial implications are discussed.     

Dynamic vehicular delay comparison between a police-controlled roundabout and a traffic signal

Effects of queues on motorists during rush hours are severe at intersections controlled by roundabouts. Traffic police are frequently used in order to optimize the traffic flow and to control queue length at such intersections. However, the question as to how efficient such system is, compared with traffic signal, is not clear from the dynamic delay point of view. In this study a criterion is being developed based on vehicular delays as the motorist join the queues and cross the stop-line. The adopted method avoids oversimplification of reality and prevents unrealistic assumptions. The data required for the study were mainly collected through video filming technique. The results, for a given set of geometric and traffic characteristics, indicate that both a police-controlled roundabout and a traffic signal act in a similar manner in terms of vehicular delay at a certain critical value. This critical value is considered to be the point of intersection between the curves representing traffic signal and roundabout on a delay–space diagram for the vehicles as they join the tail end of the queue until they cross the stop-line. Beyond the critical value, the effect of delays and buildup of queues at roundabouts will be excessive, compared to traffic signals. Before the critical value the delays at traffic signals are quite high compared to roundabouts. The study will assist the concerned authorities to operate the existing conditions, particularly the roundabouts, more efficiently. It will also be beneficial for the traffic planners and policy makers in making judicious decisions regarding control type at intersections.