The Value of Travel Time and Reliability of Houston Managed Lane Travelers-Evidence from Stated Preference Survey and Actual Usage Data

Abstract

This research examined travel behavior of Managed Lane (ML) users to better understand this group of travelers and to improve survey design techniques. These objectives were accomplished through a stated preference (SP) survey of Houston’s Katy Freeway travelers. Three survey design techniques were tested in this study: Db-efficient, random level generation, and an adaptive random approach. Mixed logit models were developed from responses using each of those designs. Value of travel time savings (VTTS) estimates vary across the design strategies. The VTTS estimates from the Db-efficient design were nearly half the estimates from the other two designs. However, among the three design strategies only the Db-efficient design was able to estimate the value of travel time reliability (VOR). The estimated VTTS from actual Katy Freeway usage (as measured using the tolls paid and travel time saved on the managed lanes) is $51/hour. This likely also includes any value that travelers place on travel time reliability. The combined estimate of VTTS and VOR estimated from the SP survey (Db-efficient design) was $50/hour, which is very close to the estimate from the actual usage data. The Db-efficient design technique proved superior to the other two techniques in this case. This study also supports estimation of both travel time and travel time reliability parameters when estimating willingness to pay for, and therefore benefits derived from, ML travel.

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