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Variation of Value of Travel Time Savings over Travel Time in Urban Commuting: Theoretical and Empirical Analysis

Hironori Kato

Open publisher page 5 citations

Abstract

In this paper, the variation of the value of travel time saving (VTTS) over the travel time of urban commuters is examined both theoretically and empirically by incorporating choice of residential location and a non-linear utility function. The following section of the paper describes the formulation of a model for an individual’s time allocation allowing for residential location choice. The author then derives VTTS from the model and analyzes it under market equilibrium. Next, the paper provides a theoretical analysis of the variation of VTTS over travel time and this is followed by an empirical analysis using the revealed preference data of urban rail users in Tokyo. The paper then analyzes the variation of VTTS over time empirically, and finally the results are summarized and future research topics are discussed.

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What this paper is about

In this paper, the variation of the value of travel time saving (VTTS) over the travel time of urban commuters is examined both theoretically and empirically by incorporating choice of residential location and a non-linear utility function. The following section of the paper describes the formulation of a model for an individual’s time allocation allowing for residential location choice. The author then derives VTTS from the model and analyzes it under market equilibrium. Next, the paper provides a theoretical analysis of the variation of VTTS over travel time and this is followed by an empirical analysis using the revealed preference data of urban rail users in Tokyo. The paper then analyzes the variation of VTTS over time empirically, and finally the results are summarized and future research topics are discussed.

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OpenAlex reports 5 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

In this paper, the variation of the value of travel time saving (VTTS) over the travel time of urban commuters is examined both theoretically and empirically by incorporating choice of residential location and a non-linear utility function. The following section of the paper describes the formulation of a model for an individual’s time allocation allowing for residential location choice. The author then derives VTTS from the model and analyzes it under market equilibrium. Next, the paper provides a theoretical analysis of the variation of VTTS over travel time and this is followed by an empirical analysis using the revealed preference data of urban rail users in Tokyo. The paper then analyzes the variation of VTTS over time empirically, and finally the results are summarized and future research topics are discussed.

Key concepts: Value of time, Travel time, Variation (astronomy), Econometrics, Value (mathematics), Empirical research, Economics, Transport engineering

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