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Can repeated surveys reveal the variation of the value of travel time over time?

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Abstract
This paper studies intertemporal changes in the value of travel time (VTT) and investigates whether the change of VTT over time can be studied based on national VTT data, collected at two points in time. We use repeated national VTT data from the Netherlands and Sweden, collected 13 and 14 years apart. The results show mostly a declining VTT for a given income level. The results show also a large within-country heterogeneity across modes and purposes, in the cross-sectional income elasticity of the VTT, and in its development over time. The explanation most consistent with our results and those of others is that the VTT has in fact increased due to income increases, but that the repeated stated choice data cannot detect this given the data, methodology and population changes. In particular, it seems that the response rate has dropped considerably in the later surveys partly due to a higher share of (busy) respondents declining to be recruited. The main contribution of this paper is to document the differences between the studies carried out in different years, indicating the reasons why it is difficult to identify temporal changes in the VTT.

Suggested Citation

  • Börjesson, Maria & Kouwenhoven, Marco & de Jong , Gerard & Daly , Andrew, 2021. "Can repeated surveys reveal the variation of the value of travel time over time?," Working Papers 2021:7, Swedish National Road & Transport Research Institute (VTI).
    • Handle: RePEc:hhs:vtiwps:2021_007
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    More about this item

    Keywords

    Value of time; Stated preference; Income elasticity; Cost-benefit analysis; Repeated studies; Data collection;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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