Fosgerau, Mogens (2008): The value of headway for a scheduled service.
Download (166kB) | Preview
This brief paper derives the value of headway, i.e. the time interval between departures, for a scheduled service. It presents a consistent framework in which users have scheduling costs, time costs and planning costs. The model represents both users who arrive at the station to choose just the next departure and users who plan for a specific departure. Planning for a specific departure is costly but becomes more attractive at longer headways. Simple expressions for the user cost result. In particular, the marginal cost of headway is large at short headways and smaller at long headways. The difference in marginal costs is the value of time multiplied by half the headway.
|Item Type:||MPRA Paper|
|Original Title:||The value of headway for a scheduled service|
|Keywords:||Time; Scheduling; Public transport; Aviation|
|Subjects:||D - Microeconomics > D1 - Household Behavior and Family Economics > D11 - Consumer Economics: Theory
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R4 - Transportation Systems > R41 - Transportation: Demand, Supply, and Congestion; Safety and Accidents; Transportation Noise
|Depositing User:||Mogens Fosgerau|
|Date Deposited:||08. Dec 2008 09:22|
|Last Modified:||12. Feb 2013 21:59|
Arnott, R. A., de Palma, A. and Lindsey, R. (1993) A structural model of peak-period congestion: A traffic bottleneck with elastic demand. American Economic Review 83(1), 161–179.
Bates, J., Polak, J., Jones, P. and Cook, A. (2001) The valuation of reliability for personal travel. Transportation Research Part E: Logistics and Transportation Review 37(2-3), 191–229.
Fosgerau, M., Hjorth, K., Brems, C. and Fukuda, D. (2008) Travel time variability: definition and valuation. DTU Transport, Denmark.
Small, K. (1982) The scheduling of Consumer Activities: Work Trips. American Economic Review 72(3), 467–479.
Vickrey, W. S. (1969) Congestion theory and transport investment. American Economic Review 59, 251–261.
Available Versions of this Item
- The value of headway for a scheduled service. (deposited 08. Dec 2008 09:22) [Currently Displayed]