Estimation of value of travel time reliability

Doohee Nam, Dongjoo Park, Apichat Khamkongkhun

Research output: Contribution to journalArticlepeer-review

46 Scopus citations


In mode choice decision, travelers consider not only travel time but also reliability of its modes. In this paper, reliability was expressed in terms of standard deviation and maximum delay that were measured based on triangular distribution. In order to estimate value of time and value of reliability, the Multinomial and Nested Logit models were used. The analysis results revealed that reliability is an important factor affecting mode choice decisions. Elasticity is used to estimate the impacts of the different policies and system improvements for water transportation mode. Among these policies, decision maker can assess and select the best alternative by doing the benefit and cost analysis based on a new market share, the value of time, and the value of reliability. Finally, a set of promising policies and system improvement of the water transportation were proposed.

Original languageEnglish
Pages (from-to)39-61
Number of pages23
JournalJournal of Advanced Transportation
Issue number1
StatePublished - 2005


  • Discrete choice model
  • Logit
  • Nested logit
  • Travel time reliability
  • Water transportation mode


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