VALUE-OF-TIME IN TRAVEL DEMAND FORECASTING AND TRANSPORT PROJECT ASSESSMENT: PROPOSAL FOR A NEW APPROACH
Floridea Flo Di Ciommo, CENIT-UPC Barcelona Tech, Karel Martens, Faculty or Architecture and Town Planning -Technion
This paper will elaborate a methodological framework that will allow the derivation of value-of-time for different segments of population based on migration status, gender, or type of geographic area.
Even though the majority of transport projects have been selected through a CBA where travel time savings are the main benefit criterion used, the change of travel time perception and thus value-of-time (VOT) that is occurring due to ICT’s and new mobility services, makes travel time saving technologically, economically and socially speaking a weak criterion for guiding transport planning by itself.
The aim of this paper is to elaborate a methodological framework and an operational travel demand model that will allow the derivation of value-of-time for different segments of population based on migration status, gender, or type of geographic area considered and their related needs and behaviours. In particular, we would like to define the influence of the change of the value perception on travel demand estimation and on project assessment.
Starting a new framework for estimating VOT will facilitate a better travel demand forecasting process and an improved CBA assessment. The new methodological framework will act on both sides of the story: travel demand and transport project assessment.
This paper proposes new data elements as well as a data collection method to operationalize the proposed framework for VOT estimation. The collection method is based on a case studies typology, which enabled estimating the associated models for deriving value-of-time distributions across population groups. The analysis of these data elements will consider factors that result in cross-case studies variations as well as differences among different population groups (such as by immigrant status, by gender, or by type of geographic area considered).
Association for European Transport