Abstract
Most evaluations and economic assessments of transportation proposal and policies in Australia omit a valuation of time spent in transit for individual items or loads of freight. Knowledge of delays and the practical value of reliability can be useful for shippers and receivers, but the information does not necessarily appear directly in vehicle operating costs and personal travel times, and benefits generated by improvements from road investments and traffic management may be understated and expenditure decisions may be biased towards passenger movements. Contextual stated preference (CSP) methods and associated multinomial logit models are applied in this paper to estimate the value of such factors from an Australian survey of freight shippers using road freight transportation in 1998.
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