• Journal of Korean Society of Transportation
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• v.30 no.6
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• pp.3-12
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• 2012

Additive willingness-to-pay (WTP) for leisure-travel time saving focused on the Iksan-Pohang Expressway and the Donghae Expressway was surveyed during the summer months to estimate the value of travel-time savings (VTTS) for non-business leisure trips. Travelers traveling between 2 and 3 hours on Iksan-Pohang Expressway had WTP of 723 won per 10 minutes of leisure-travel time savings and those traveling between 3 and 4 hours on Donghae Expressway had WTP of 854 won per the same. Based on this survey, we learned that WTP in leisure travel time savings increased with the total travel time. 300 effective samples for each expressway were collected, and estimation was separately conducted on the basis of Cox test.