ASSESSING VALUE OF BUS TRANSIT PASSENGER'S TRAVEL TIME AND SAVINGS. A CASE STUDY OF MUMBAI, INDIA

摘要

This study focuses on monetization of travel times and travel time savings of Mumbai city bus users in India. Interview surveys are conducted on board and off board for collecting about 760 samples. A questionnaire form was prepared and responses are collected for capturing the socio-economic, trip characteristics and perception of travel times from the users. GPS archived data for these trips was collected from the operator for capturing the actual travel times for given trip of origin and destination based on start times in a given day. Differences in actual and perceived travel time were also evaluated in terms of value of travel time (VTT) considering in-vehicle travel times, waiting times, total trip times etc. Perceived generalized VTT and actual generalized VTT were found to be 1.422 and 1.602 rupees/minute, respectively. The generalized value of travel time savings (VOTTS) was found to be 0.310 rupees/minute. VTT and VOTTS were evaluated for individual user and then aggregated for a given income group as well as overall users. These results can form a strong basis for adopting road pricing policies based on VTT and VOTTS calculated considering average journey speed under varying socio-economic groups.