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Activity Number:
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30
- SPEED: Statistics and Econometrics
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Type:
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Contributed
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Date/Time:
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Sunday, July 29, 2018 : 2:00 PM to 3:50 PM
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Sponsor:
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Transportation Statistics Interest Group
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Abstract #328983
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Presentation
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Title:
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Is Faster Always Better? Results from Joint Time-Use-Expenditure and Mode Choice Model
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Author(s):
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Simona Jokubauskaite* and Reinhard Hoessinger and Florian Aschauer and Regine Gerike and Sergio Jara-Diaz and Stefanie Peer and Basil Schmid and Kay W. Axhausen and Friedrich Leisch
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Companies:
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Institute of Applied Statistics and Computing, BOKU Vienna and Institute for Transport Studies, BOKU Vienna and Institute for Transport Studies, BOKU Vienna and Institute of Transport Planning and Road Traffic, TU Dresden and University of Chile and Institute for Multi-Level Governance and Development, WU Vienna and Institute for Transport Planning and Systems, ETH Zurich and Institute for Transport Planning and Systems, ETH Zurich and Institute of Applied Statistics and Computing, BOKU Vienna
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Keywords:
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joint continuous-discrete;
maximum likelihood;
mode choice;
VTTS;
VTAT;
VOL
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Abstract:
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The value of travel time savings (VTTS) is usually gained from indirect utility models estimating the willingness to reduce travel time in the context of mode choice, route choice, or destination choice. The VTTS has always been subject to extensive debate in both academia and politics, because savings in travel time are the major justification for transport infrastructure investments. Recent research has shown a trend away from pure VTTS to a more informative measures, the value of leisure (VOL) in terms of the marginal willingness-to-pay for an additional unit of leisure and the value of time assigned to travel (VTAT), which represents the direct utility of travelling. The latter indicator can help to justify the preference of slower transport modes. In this paper we present for the first time a joint time-and-expenditure allocation and discrete mode choice model. Model estimation is based on maximum likelihood technique. We use a novel dataset of 748 representatively selected Austrian workers. Although, the estimated VTTS favors "quicker" mode - car, the VTAT stresses the importance of investment in "slower" mode - public transport.
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Authors who are presenting talks have a * after their name.
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