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Estimation and Application of the Value of Travel Time by Time Period: A Case Study of Downtown Highway Expansion Project (시간대별 통행시간가치 추정 및 적용: 도심부 도로 확장 사업 사례연구를 중심으로)

Lee, Jae-Young;Choi, Keechoo
- KSCE Journal of Civil and Environmental Engineering Research
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- v.31 no.1D
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- pp.7-15
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- 2011
The travel time value is important factor for the evaluation of feasibility the transportation facility investment. The existing method for calculation of the travel time for each mode uses daily average trip purpose. So the value of travel time is constant because it is estimated with only daily average proportion. This daily constant time value can distort the results of future demands of toll roads or economic appraisals for the projects. The proportion of the trip purpose varies by time periods. Accordingly the value of travel time also varies by time periods. In this study, times periods are classified as morning peak, evening peak, business time off-peak, and non-business time off-peak. And trip purpose proportions are sorted by each time period from raw data of Seoul household trip study, then the value of travel time for each time period is estimated with these sorted purpose proportions. A case study of Seoul Jung-gu and Yongsan-gu performed with newly estimated time value by time periods. The result of benefit calculation with the daily constant time value is overestimated approximately annual 2.5 billion Won compared by time values by time periods. The demands of toll roads are also overestimated with the existing daily constant time value by daily 3,500 vehicles and total revenue of toll roads are overestimated by annually 1 billion Won. In conclusion, the value of travel time by each time period enables the more precise economic evaluation of the transportation facility investment projects, mode choice behavior, and route choice behavior especially for toll roads.
https://doi.org/10.12652/Ksce.2011.31.1D.007 인용 PDF KSCI

A Review about the Need for Modelling Toll Road with Different Value of Travel Time (유료도로의 교통수요분석에 있어서 통행시간가치 차등화 필요성 검토)

Kim, Jae-Yeong;Son, Ui-Yeong;Jeong, Chang-Yong
- Journal of Korean Society of Transportation
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- v.27 no.4
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- pp.31-40
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- 2009
Some road charges toll to finance the cost or to manage traffic congestion. With a growth of PPI projects, toll roads would be increase continuously. Tolls have a considerable influence on user's route choice, and sometimes can affect to the departure time and even to mode choice. For modelling toll roads, user's WTP or VOT has an important role and it is general that VOT is equivalent to the wages of workers. The current way of modelling technique yields various toll price elasticity from low to high. When there exist few alternative routes, unrealistic result that all traffic assigned to some shortest path may occur. The toll price elasticity can be influenced by alternative route and congestion level, but some result shows nearly unrealistic patterns. The model to forecast more realistic toll road demand is very essential for estimating toll revenue, choice of optimal toll level & collecting location and establishing toll charge strategy. This paper reviewed some literatures about toll road modelling and tested case study about the assignment technique with different VOT. The case study shows that using different VOT yields more realistic result than the use of single VOT.
PDF KSCI