When is the concept of generalized transport costs useless? the effects of the change in the value of time

T. Kono, H. Morisugi, A. Kishi

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Under an exogenous working time assumption, the value of time cannot be constant: it is affected by travel time, travel fees and other exogenous factors. Our numerical simulations, assuming a nested C.E.S. form of the utility function, show that the change in value of time tends to be sensitive to travel time and slightly sensitive to travel fees. Based on the change in value of time, the influences of changes in travel time and travel fees on the number of visits can differ greatly even if those changes are equivalent in terms of generalized transportation costs.

Original languageEnglish
Title of host publicationUrban Transport XIV
Subtitle of host publicationUrban Transport and the Environment in the 21st Century
Pages629-638
Number of pages10
DOIs
Publication statusPublished - 2008 Dec 1
Event14th International Conference on Urban Transport and the Environment in the 21st Century, Urban Transport 2008 - , Malta
Duration: 2008 Sep 12008 Sep 3

Publication series

NameWIT Transactions on the Built Environment
Volume101
ISSN (Print)1743-3509

Other

Other14th International Conference on Urban Transport and the Environment in the 21st Century, Urban Transport 2008
CountryMalta
Period08/9/108/9/3

Keywords

  • Generalized travel cost
  • Private trip
  • Trip demand
  • Value of time

ASJC Scopus subject areas

  • Architecture
  • Civil and Structural Engineering
  • Building and Construction
  • Automotive Engineering
  • Safety, Risk, Reliability and Quality
  • Arts and Humanities (miscellaneous)
  • Transportation
  • Safety Research
  • Computer Science Applications

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  • Cite this

    Kono, T., Morisugi, H., & Kishi, A. (2008). When is the concept of generalized transport costs useless? the effects of the change in the value of time. In Urban Transport XIV: Urban Transport and the Environment in the 21st Century (pp. 629-638). (WIT Transactions on the Built Environment; Vol. 101). https://doi.org/10.2495/UT080611