A Simulation Method for Determining the Confidence Interval of a Weighted Group Average Value of Time



A Simulation Method for Determining the Confidence Interval of a Weighted Group Average Value of Time

Authors

ETTEMA D, GUNN H, DE JONG G, LINDVELD K, Hague Consulting Group, The Netherlands

Description

In many countries, value of time (VOT) measures are frequently used for the appraisal of investments in road infrastructure and public transport facilities. In many more, VOT estimates are used as inputs to forecasting models. VOT provides a monetary meas

Abstract

In many countries, value of time (VOT) measures are frequently used for the appraisal of investments in road infrastructure and public transport facilities. In many more, VOT estimates are used as inputs to forecasting models. VOT provides a monetary measure of how much individuals are willing to pay for improvements in their travel circumstances or the avoidance of deterioration (congestion).

Publisher

Association for European Transport