Valuations of travel time variability in scheduling versus mean-variance models

@inproceedings{Brjesson2012ValuationsOT,
  title={Valuations of travel time variability in scheduling versus mean-variance models},
  author={Maria B{\"o}rjesson and J{\'o}nas El{\'i}asson},
  year={2012}
}
The standard method of estimating the value of travel time variability for use in policy appraisal is to estimate the parameters of a reduced-form utility function, where some measure of travel time variability (such as the standard deviation) is included. A problem with this approach is that the obtained valuation will in general depend on the standardized travel time distribution, and hence cannot be transferred from one context to another. A recently suggested remedy of this problem has been… CONTINUE READING

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