Value of commuting time saving in Beijing: a stated preference study
We estimate the value of travel time savings with a discrete choice model using data from choice experiments on both car drivers and public transport users in Beijing. We find that, compared with public transport users, car drivers would be willing to pay more to save one hour during their commute; crowding inside the bus and subway carriage is very important for public transport users; the value of time saving is higher in the morning than in the evening; and the marginal willingness to pay for commuting time savings varies according to gender, income, education, and time flexibility. Moreover, we compare results from a model addressing attribute non-attendance and a standard model. The results from the model addressing non-attendance are more plausible, with higher consistency in estimated parameters and lower standard deviations.
JEL: C25, R41