The Value of Travel Time Variability for a Scheduled Service
M Fosgerau, K Hjorth, Technical University of Denmark, Department of Transport, DK
The paper derives the value of reliability of a scheduled service from the scheduling model. Empirical illustration is given using a large data set of rail schedule and arrival times.
This paper presents a solution to the problem of obtaining a tractable valuation
of travel time variability in the case of a scheduled service, where the
departure time choice is not continuous. Our approach is a reinterpretation
of the scheduling model, where the travellers have no influence on their own
departure time, but the transport operator maximises utility on behalf of the
travellers by choosing the scheduled arrival time.
Association for European Transport