Estimation of Value of Travel Time Saving for Commuter Trips: A case study of Kathmandu

Abstract

Value of travel time (VTT) comprises a significant portion of benefits of transport infrastructure investment, in cost-benefit analysis, affecting viability of transportation projects. This study focuses on determining value attached to travel time saving and reliability associated with commuters in Kathmandu valley. Perception survey was conducted before collection of data by Revealed Preference/ Stated Preference (RP/SP) method. VTT from RP data, adopting multinomial logit model, resulted in Rs. 114.65 per hour. Uncorrelated mixed logit model was adopted for SP data. VTT from SP survey resulted in Rs. 67.48 per hour and Rs. 112.39 per hour for public vehicle user and private two-wheeler user respectively. VTT for work trips was estimated as Rs. 129.42 per hour and Rs. 129.64 per hour for public vehicle user and private two-wheeler user respectively depicting higher value for work trips. VTT estimated from RP and SP survey are comparable.