META-ANALYSIS OF VALUE OF TRAVEL TIME SAVINGS: EVIDENCE FROM JAPAN

This paper examines the value of travel time saving (VTTS) in Japan with a meta-analysis. 216 VTTSs estimated in 68 peer-reviewed papers on travel behavior in Japan from 1979 to 2003 are used for the meta-analysis. First, the basic characteristics of VTTSs are analyzed from the viewpoints of purpose of travel, weekday/ weekend day, type of data, urban/interurban, and attribute of travel. Then, the regression analyses are conducted with all VTTS estimates, with VTTS estimates of urban travels, and VTTS estimates of inter-urban travels. The estimation results show that the VTTS estimated with stated preference data is lower than the VTTS estimated with revealed preference data; the VTTS of business travel is higher than the VTTSs of home-to-school, private, and leisure travels; the VTTSs of access/egress time, wait time, and transfer time are higher than the VTTS of in-vehicle time. They also show that the VTTS on weekdays is not significantly different from that on weekend days; The VTTS of urban travel is not significantly different from that of inter-urban travel. In terms of travel mode, the characteristics depend on whether it is urban travel or inter-urban travel.