The research reported in this paper was jointly funded by DETR, OPRAF and the Passenger Demand Forecasting subscription service which is a `research club' comprised of most of the train operating companies in Great Britain. The purpose of the research was to review British empirical evidence regarding the valuations of walking time, waiting time, search time, late time, departure time adjustments, congested travel time, headway and interchange. This paper reports regression models, which aim to explain variations in both the time and money valuations of the variables listed above as a function of variables such as journey purpose, mode, distance, GDP, type of data and choice context as well as variables specific to particular valuations. Specific issues which are examined include the correspondence between Revealed and Stated Preference values and the conventional wisdom of valuing walk and wait time as twice in-vehicle time. The analysis is based on a large data set containing 110 studies and 641 valuations at a maximum level of disaggregation of journey purpose and mode. It includes 195 walking time values, 149 headway values, 97 valuations of departure time changes and 51 valuations of interchange.
Abstract