Abstract
This paper reviews modeling frameworks and empirical evidences on the valuation of travel time variability and summarizes the issues which are needed to work on the economic appraisal of transport infrastructure. In the literature review, we introduce the two classes of the modeling approaches: the mean-variance approach and the scheduling approach and continue with a discussion of their relative advantages and disadvantages. We further introduce a new integrated approach, which has some nice properties for economic appraisals. The summary of future issues are mainly dedicated to forecasting travel time variability, extension of the behavioral model and the aspects of behavioral economics in the stated preference survey.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
