Valuation of travel time in free-flow and congested traffic and its reliability-estimates for Czech Republic

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11690%2F19%3A10410103" target="_blank" >RIV/00216208:11690/19:10410103 - isvavai.cz</a>

Result on the web

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=6tAiI6USIK" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=6tAiI6USIK</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.5507/tots.2019.007" target="_blank" >10.5507/tots.2019.007</a>

Result language

angličtina

Original language name

Valuation of travel time in free-flow and congested traffic and its reliability-estimates for Czech Republic

Original language description

A prerequisite for any monetary estimation of economic losses arising from traffic congestion is a reliable estimate of the value of travel time. Although the available evidence from abroad reveals significant differences in the values of individual components of time travel, specific valuations of travel time are rather rare in the Czech Republic. The aim of this paper is to expand the data base in the Czech Republic by presenting selected estimates of the travel time components for Czech drivers and passengers. Specifically, we elaborate on the value of travel time and time spent in congestion for medium-long domestic routes (represented by the Prague-Brno route). The results of our valuation study (N = 602) show that the value of travel time spent in congestion is almost twice as high as the value of travel time in free-flow traffic and suggest that the reduction of congestion and of the variation in travel time in general will bring significant economic benefits compared to shortening travel time in free-flow traffic. This evidence confirms the importance of distinguishing between different components of travel time when assessing the benefits of transport infrastructures. Importantly, our estimates of the value of travel time are much lower than those officially endorsed by Czech Ministry of Transport (MoT) for analysing benefits of new transport infrastructure.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50201 - Economic Theory

Project

<a href="/en/project/CG712-111-520" target="_blank" >CG712-111-520: Quantification of external costs of transport in the Czech Republic</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Transactions on Transport Sciences

ISSN

1802-9876

e-ISSN

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Volume of the periodical

10

Issue of the periodical within the volume

1

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

9

Pages from-to

10-18

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85075787273