BEHIND THE SUBJECTIVE VALUE OF TRAVEL TIME SAVINGS : THE PERCEPTION OF WORK, LEISURE, AND TRAVEL FROM A JOINT MODE CHOICE ACTIVITY MODEL

Sergio R. Jara-Diaz · Cristian Ángelo Guevara

66 citations0/0 files storedJournal of Transport Economics and Policy

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Transportation Planning and Optimization Economic and Environmental Valuation Transportation and Mobility Innovations

Abstract

In this paper the authors use a small population of travelers in Santiago, Chile to show that coupling microeconomically-founded activity models and travel choice models can yield a better understanding of individual travel behavior, especially through the analysis of the value of time. Many travel choice models have been used to calculate the full value of travel time savings, but its components have never been estimated quantitatively. The data reveal perceptions of work time, leisure, and travel time that hide behind formation of a willingness to pay to reduce travel, according to the authors. The paper also suggests future areas for research.

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References

1965A Theory of the Allocation of Time 1971A Theory of the Economics of Time 1987Home production -- A survey 1966TRAVEL TIME AND THE PRICE OF LEISURE 2007Allocation and Valuation of Travel-Time Savings 1969The Evaluation of Travelling Time 2003On the goods-activities technical relations in the time allocation theory 1977VALUE OF BUSINESS TRAVEL TIME

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