Paper Info
Title
Modelling Value of Time for Trip Chains in Daily Schedules.
Abstract
The decision about spending time on an activity, switching to the next activity and transport mode used to travel to the next activity location depends on money value of time; opportunity cost of time at activity. Optimal condition of transition between two activities occurs when their marginal utility of time is equal. The presented framework in this paper models the marginal utility of activity to express the money benefit earned by spending each unit of time at the given activity. The proposed model is generalized for the schedule with any number of activities as contrast to previous studies, where such models were used for schedules with fixed number of activities. This framework can be used to calculate the loss in value of time due decreased activity participation resulting from travel delays.
Year
DOI
Venue
2016
10.1016/j.procs.2016.04.139
Procedia Computer Science
Keywords
Field
DocType
Value of time,Opportunity cost of time
Value of time,Computer science,Simulation,Mode choice,Operations research,Schedule,Artificial intelligence,Marginal utility,Machine learning,Opportunity cost
Conference
Volume
ISSN
Citations 
83
1877-0509
0
PageRank 
References 
Authors
0.34
0
6
Name
Order
Citations
PageRank
Muhammad Usman131677.54
Luk Knapen28622.42
Ansar-Ul-Haque Yasar311842.31
Tom Bellemans47323.16
Davy Janssens523838.08
Geert Wets676667.59