Travel time reliability: a review of late time valuations, elasticities and demand impacts in the passenger rail market in Great Britain
Document Type
Journal Article
Publication Date
2014
Subject Area
place - europe, mode - rail, operations - reliability, operations - performance, ridership - attitudes
Keywords
Rail reliability, Valuations of late time, Lateness elasticities
Abstract
This paper provides an extensive review and reconciliation of British and European evidence relating to the value of, and demand responses to, rail reliability. In particular, we compare the elasticities implied by stated preference valuations of late time with directly estimated lateness elasticities. We find that the implied lateness elasticities are substantially greater than those directly estimated. A possible explanation for this is that lateness has been over-valued, but more sobering explanations would be to suggest that, whilst rail travellers dislike unreliability, they may be unwilling or unable to reduce their rail travel in response to experiences of poor performance, or else conventional economic approaches to deducing elasticities are not appropriate. The findings have been used to update the recommendations of the UK rail industry’s Passenger Demand Forecasting Handbook.
Rights
Permission to publish the abstract has been given by SpringerLink, copyright remains with them.
Recommended Citation
Wardman, M., & Batley, R. (2014). Travel time reliability: a review of late time valuations, elasticities and demand impacts in the passenger rail market in Great Britain. Transportation, Vol. 41, Issue 5, pp. 1041-1069.
