Investigating Changes in Willingness to Pay for Managed-Lane Systems
Published in: Transportation Research Record: Journal of the Transportation Research Board, v. 2382, 2013, p. 37-45
Posted on RAND.org on April 06, 2016
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This paper investigates the hypothesis that willingness to pay for managed lanes (MLs) changes through time in the aftermath of the opening and operation of a facility. Using a quasi-panel of stated preference surveys, the authors found that the estimates of the value of travel time reliability were almost as high as the value of travel time savings in regular travel situations and were almost twice as high in urgent situations 2 years after the opening and operation of MLs. These results indicate that the presentation of reliability information affects the valuation of travel time savings estimated from stated preference surveys.