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Testing the slope model of scheduling preferences on stated preference data

Author

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  • Abegaz, Dereje
  • Hjorth, Katrine
  • Rich, Jeppe
Abstract
The valuation of travel time variability is derived either from a structural model, given information on departure time, or directly from a reduced-form model where departure time is assumed to be optimally chosen. The two models are theoretically equivalent under certain assumptions, hence are expected to yield similar results. We use stated preference data to compare the valuation of travel time variability under a structural model where trip-timing preferences are defined in terms of time-dependent utility rates, the “slope model”, against its reduced-form model. Two choice experiments are used that are identical except one has a fixed departure time while the other allows respondents to choose departure time freely. The empirical results in this paper do not support the theoretical equivalence of the two models as the implied value of travel time variability under the reduced-form model is an order of magnitude larger. This finding, which is robust to various specification tests, is in line with a recent Swedish study by Börjesson, Eliasson and Franklin [Transportation Research Part B: Methodological, 46(7), 855–873 (2012)]. Since our data allows a direct comparison of the two approaches, we are able to rule out some potential explanations lined up by past research for the observed discrepancy between the two models.

Suggested Citation

  • Abegaz, Dereje & Hjorth, Katrine & Rich, Jeppe, 2017. "Testing the slope model of scheduling preferences on stated preference data," Transportation Research Part B: Methodological, Elsevier, vol. 104(C), pages 409-436.
    • Handle: RePEc:eee:transb:v:104:y:2017:i:c:p:409-436
    DOI: 10.1016/j.trb.2017.08.001
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    References listed on IDEAS

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    Citations

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    Cited by:

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    2. Milad Haghani & Michiel C. J. Bliemer & John M. Rose & Harmen Oppewal & Emily Lancsar, 2021. "Hypothetical bias in stated choice experiments: Part I. Integrative synthesis of empirical evidence and conceptualisation of external validity," Papers 2102.02940, arXiv.org.
    3. Li, Chuanyao & Huang, Haijun, 2019. "Analysis of bathtub congestion with continuous scheduling preference," Research in Transportation Economics, Elsevier, vol. 75(C), pages 45-54.
    4. Zhaoqi Zang & Xiangdong Xu & Kai Qu & Ruiya Chen & Anthony Chen, 2022. "Travel time reliability in transportation networks: A review of methodological developments," Papers 2206.12696, arXiv.org, revised Jul 2022.
    5. Rich, Jeppe & Vandet, Christian Anker, 2019. "Is the value of travel time savings increasing? Analysis throughout a financial crisis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 145-168.
    6. Li, Chuan-Yao & Huang, Hai-Jun, 2018. "User equilibrium of a single-entry traffic corridor with continuous scheduling preference," Transportation Research Part B: Methodological, Elsevier, vol. 108(C), pages 21-38.
    7. Gu, Yu & Fu, Xiao & Liu, Zhiyuan & Xu, Xiangdong & Chen, Anthony, 2020. "Performance of transportation network under perturbations: Reliability, vulnerability, and resilience," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 133(C).
    8. Li, Zhi-Chun & Huang, Hai-Jun & Yang, Hai, 2020. "Fifty years of the bottleneck model: A bibliometric review and future research directions," Transportation Research Part B: Methodological, Elsevier, vol. 139(C), pages 311-342.

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    More about this item

    Keywords

    Travel time variability; Value of reliability; Slope model; Scheduling preferences;
    All these keywords.

    JEL classification:

    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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