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Suggested Citation:"6 References." National Academies of Sciences, Engineering, and Medicine. 2015. Passenger Value of Time, Benefit-Cost Analysis and Airport Capital Investment Decisions, Volume 2: Final Report. Washington, DC: The National Academies Press. doi: 10.17226/22161.
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Page 105
Page 106
Suggested Citation:"6 References." National Academies of Sciences, Engineering, and Medicine. 2015. Passenger Value of Time, Benefit-Cost Analysis and Airport Capital Investment Decisions, Volume 2: Final Report. Washington, DC: The National Academies Press. doi: 10.17226/22161.
×
Page 106
Page 107
Suggested Citation:"6 References." National Academies of Sciences, Engineering, and Medicine. 2015. Passenger Value of Time, Benefit-Cost Analysis and Airport Capital Investment Decisions, Volume 2: Final Report. Washington, DC: The National Academies Press. doi: 10.17226/22161.
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Page 107

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6 REFERENCES Adler, T., C. Falzarano and G. Spitz, “Modeling Service Trade-offs in Air Itinerary Choices,” Transportation Research Record: Journal of the Transportation Research Board, No. 1915, Transportation Research Board of the National Academies, Washington D.C., 2005. Bates, J., J. Polak, P. Jones, and A. Cook “The valuation of reliability for personal travel,” Transportation Research 37E, 2001, pp. 191-229. Becker, G. “A theory of the allocation of time, ” Economic Journal, Vol. 75, 1965, pp. 493–- 517. Ben-Akiva, M. E. and S. R. Lerman, Discrete Choice Analysis, MIT Press, 1985 for details on the model structure and statistical estimations procedures. Brownstone, D., and K. Small, “Valuing Time and Reliability: Assessing the Evidence from Road Pricing Demonstrations,” Transportation Research Part A, Vol. 39, 2005, pp. 279– 293. Collins, A., J. M. Rose, and S. Hess, Interactive stated choice surveys: a study of air travel behaviour, Transportation, Vol. 39(1), 2012, pp. 55–79. De Borger, B. and M. Fosgerau, “The trade-off between money and time: A test of the theory of reference-dependent preferences,” Journal of Urban Economics, 64, 2008, pp. 101–115. De Borger, B. and K. Van Dender, “Transport tax reform, commuting and endogenous values of times,” Journal of Urban Economics, 53, 2003, pp. 510–530. DeSerpa, A., “A theory of the economics of time, ” Economic Journal, Vol. 81, 1971, pp. 828– 846. Florida, R., America’s Leading College Towns, http://www.citylab.com/design/2012/08/americas-leading-college-towns/3054/ Fosgerau, M. and D. Fukuda, “Valuing travel time variability: Characteristics of the travel time distribution on an urban road,” working paper, Danish Technical University, 2010. http://mpra.ub.uni-muenchen.de/24330/1/TTdist20100807.pdf Fosgerau, M. and A. Karlström, “The value of reliability,” Transportation Research Part B, Vol. 44, 2010, pp. 38–49. Hensher, D. and Z. Li, “Valuing Travel Time Variability within a Rank-Dependent Utility Framework and an Investigation of Unobserved Taste Heterogeneity,” Journal of Transport Economics and Policy, Vol. 46(2), 2012, pp. 293–312. Hess, S. and J. Polak , Mixed Logit modelling of airport choice in multi-airport regions, Journal of Air Transport Management, Vol. 11(2), 2005, pp.59–68. Hess, S. and J. Polak, “Exploring the potential for cross-nesting structures in airport-choice analysis: a case-study of the Greater London area”, Transportation Research Part E, Vol. 42, 2006a, pp. 63–81. 6 Page 104

Hess, S. and J. Polak, “Airport, airline and access mode choice in the San Francisco Bay area,” Papers in Regional Science, Vol. 85(4), 2006b, pp. 543–567. Hess, S., T. Adler and J. Polak, “Modelling airport and airline choice behaviour with the use of stated preference survey data,” Transportation Research Part E, Vol. 43, 2007, pp. 221–233. Hess, S. and T. Adler, “An analysis of trends in air travel behaviour using four related SP datasets collected between 2000 and 2005,” Journal of Air Transport Management, Vol. 17(4), 2011, pp. 244–248. Hess, S., J. Rose, and D. Hensher, “Asymmetrical Preference Formation in Willingness to Pay Estimates in Discrete Choice Models,” Transportation Research Part E, Vol. 44(5), 2008, pp. 847–863. Hess, S., A. Stathopoulos, and A. J. Daly, Allowing for heterogeneous decision rules in discrete choice models: an approach and four case studies, Transportation, Vol. 39(3), 2012, pp 565–591. Jara-Díaz, S., “Allocation and valuation of travel-time savings,” in D. Hensher and K. Button, eds., Handbook of Transport Modelling, Amsterdam and New York: Pergamon, 2000, pp. 303–319. Jara-Díaz, S., “On the goods-activities technical relations in the time allocation theory,” Transportation, Vol. 30, 2003, pp. 245–260. Jara-Díaz, S., “Transport Economic Theory”. Amsterdam: Elsevier, 2007. Koster, P., E. Kroes, and E. Verhoef, “Travel time variability and airport accessibility,” Transportation Research Part B, 2011, in press: doi:10.1016/j.trb.2011.05.027. Koster, P., E. Verhoef and E. Kroes, “Valuing the costs of car travel time variability,” working paper, Faculty of Economics and Business Administration, VU University, Amsterdam. Layton, D. and D. Hensher, “Aggregation of common-metric attributes in preference revelation and implications for willingness to pay,” Transportation Research, Part D, Vol. 15, No. 7, 2010, pp. 394–404. Louviere, Jordan, David A. Hensher, and Joffre D. Swait, “Stated Choice Methods Analysis and Applications,” Cambridge University Press, 2000. Oort, C., “The evaluation of travelling time," Journal of Transport Economics and Policy, No. 3, 1969, pp. 279–286. Noland, R. and K. Small, “Travel-time uncertainty, departure time choice, and the cost of morning commutes, ” Transportation Research Record 1493, TRB, National Research Council, Washington, D.C., 1995, pp. 150–158. Noland, R., K. Small, P. Koskenoja, and X. Chu, “Simulating Travel Reliability, ” Regional Science and Urban Economics, Vol. 28, 1998, pp. 535–564. Pels, E., P. Nijkamp, and P. Rietveld, “Airport and airline choice in a multiairport region: an empirical analysis for the San Francisco bay area,” Regional Studies, Vol. 35(1), 2001, pp. 1–9. Page 105

Pels, E., P. Nijkamp, and P. Rietveld, “Access to and competition between airports: a case study for the San Francisco Bay area,” Transportation Research Part A: Policy and Practice, Vol. 37, No. 1, 2003, pp. 71–83. Resource Systems Group, Inc., “Transportation Fuel Demand Forecast Household and Commercial Fleet Survey: Focus Group Results,” October 2008. Resource Systems Group, Inc., “West of Hudson Regional Transit Access Study, Stated Preference Survey Report,” April 2009. Resource Systems Group, Inc., IH 820/SH 183 Stated Preference Survey Model Estimation, February 2007. Small, K., “The scheduling of consumer activities: Work trips, ” American Economic Review, Vol. 72, 1982, pp. 467–479. Small, K., C. Winston, and J. Yan, “Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability,” Econometrica, Vol. 73, 2005, pp. 1367–1382. Small, K. and E. Verhoef, The Economics of Urban Transportation. London and New York: Routledge, 2007. Theis, G., J. Clarke, M. Ben-Akiva, and T. Adler, “Risk Averseness Regarding Short Connections in Airline Itinerary Choice,” Transportation Research Record: Journal of the Transportation Research Board, No. 1951, Transportation Research Board of the National Academies, Washington D. C., 2006. U.S. Department of Transportation, Office of the Secretary of Transportation, Revised Departmental Guidance on Valuation of Travel Time in Economic Analysis, Memorandum from Peter Rogoff, Acting Under Secretary for Policy, to Secretarial Officers and Modal Administrators, Washington, D.C., July 9, 2014. Warburg, V, C. Bhat and T.Adler, “Modeling Demographic and Unobserved Heterogeneity in Air Passengers’ Sensitivity to Service Attributes in Itinerary Choice,” Transportation Research Record #1951, Transportation Research Board, Washington D. C., 2006. Wilbur Smith Associates, Triangle Expressway Comprehensive Traffic and Revenue Study Final Report, September 2008. Page 106

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TRB’s Airport Cooperative Research Program (ACRP) Web-Only Document 22: Passenger Value of Time, Benefit-Cost Analysis and Airport Capital Investment Decisions, Volume 2: Final Report summarizes the data collection methodology to produce a method for airport owners and operators to determine how their customers value the travel time impacts of efficiency improvements.

The purpose of this research is to provide an up-to-date understanding of how recent airport developments, such as changes in security measures since 9/11, the proliferation of airside passenger amenities, and the adoption of new technology, have changed the way travelers value efficient air travel.

The report is accompanied by Volume 1: Guidebook for Valuing User Time Savings in Airport Capital Investment Decision Analysis that summarizes the data collection methodology and Volume 3: Appendix A Background Research and Appendix B Stated Preference Survey.

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