Travelers’ Value of Time and Reliability as Measured on Katy Freeway

Knowingly or not, people generally assign economic value to their time. In the transportation realm, travelers place a value on their travel time and have shown a willingness to pay if there is a chance of reducing their travel time. This policy brief and its accompanying technical report presents an overview of how VOT has been estimated in Texas and also presents a more specific example of how VOT was estimated using transponder data from users of the Katy Freeway in Houston.

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