TY - JOUR

T1 - Valuing travel time variability

T2 - Characteristics of the travel time distribution on an urban road

AU - Fosgerau, Mogens

AU - Fukuda, Daisuke

PY - 2012/10

Y1 - 2012/10

N2 - This paper provides a detailed empirical investigation of the distribution of travel times on an urban road for valuation of travel time variability. Our investigation is premised on the use of a theoretical model with a number of desirable properties. The definition of the value of travel time variability depends on certain properties of the distribution of random travel times that require empirical verification. Applying a range of nonparametric statistical techniques to data giving minute-by-minute travel times for a congested urban road over a period of five months, we show that the standardized travel time is roughly independent of the time of day as required by the theory. Except for the extreme right tail, a stable distribution seems to fit the data well. The travel time distributions on consecutive links seem to share a common stability parameter such that the travel time distribution for a sequence of links is also a stable distribution. The parameters of the travel time distribution for a sequence of links can then be derived analytically from the link level distributions.

AB - This paper provides a detailed empirical investigation of the distribution of travel times on an urban road for valuation of travel time variability. Our investigation is premised on the use of a theoretical model with a number of desirable properties. The definition of the value of travel time variability depends on certain properties of the distribution of random travel times that require empirical verification. Applying a range of nonparametric statistical techniques to data giving minute-by-minute travel times for a congested urban road over a period of five months, we show that the standardized travel time is roughly independent of the time of day as required by the theory. Except for the extreme right tail, a stable distribution seems to fit the data well. The travel time distributions on consecutive links seem to share a common stability parameter such that the travel time distribution for a sequence of links is also a stable distribution. The parameters of the travel time distribution for a sequence of links can then be derived analytically from the link level distributions.

KW - Nonparametrics

KW - Stable distributions

KW - Travel time distribution

KW - Value of travel time variability

UR - http://www.scopus.com/inward/record.url?scp=84858304479&partnerID=8YFLogxK

U2 - 10.1016/j.trc.2012.02.008

DO - 10.1016/j.trc.2012.02.008

M3 - Journal article

AN - SCOPUS:84858304479

VL - 24

SP - 83

EP - 101

JO - Transportation Research Part C: Emerging Technologies

JF - Transportation Research Part C: Emerging Technologies

SN - 0968-090X

ER -