This paper deals with the estimation of the willingness to pay for travel time reliability (VOR). We report on a stated preferences survey and we provide an econometric treatment of the data using a conditional logit model. Estimations are made according to two alternative approaches: The first uses a mean-variance approach and the second uses specific coefficients for the preferences function. Although the two approaches are significantly different, both yield quite similar estimations for the VOR.
Value of travel time reliability: two alternative measures
14 January 2014