Transport policy changes and investments in transport infrastructure often change travel times considerably, which in turn affect the welfare of the affected travellers.
Social cost-benefit analysis is used to evaluate such change on the basis of a-priori-derived values of time savings (VOT). Up-to-date estimates of the VOTs are missing for Switzerland.
The aim of the study is the derivation of methodologically sound values of time savings (VOTs).
The derived values will differentiate between a variety of external factors relating to travel conditions, to travel purposes, travel distances, modes of travel and socio-demographic characteristics (income, age, etc.).
The state-of-the-art techniques to estimate values of time savings (VOTs) are based on random-utility modelling and stated-preference survey techniques.
Suitable econometric models will be estimated to identify the trade-offs between time and cost controlling for further quality variables.
The willingness-to-pay will be differentiated by person group, travel conditions and mode of travel.
This study implements the recommendation of the scoping study on Swiss value of travel time savings (VTTS) (Abay and Axhausen, 2000) by estimating VTTS for private motorised and public travel by trip purpose on the basis of new stated-choice (SC) surveys.
The survey participants were recruited as part of the continuous passenger travel survey (KEP) of the Swiss Federal Railways (SBB). The designs of the SC experiments were tested in two pre-tests. The experiments were customised and were based on one of the trips reported in the KEP survey.
The final estimates are derived from a set of complex models, which were carefully developed from a whole series of models. The recommended choice model considers inertia variables, random parameters for travel costs and elasticity parameters of income and distance besides the attributes of the alternatives.
The trip purpose specific estimates are obtained by interacting the travel time variable with trip purpose (commuting, shopping and leisure travel). The valuation of travel time savings for business trips was determined separately.