Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines
Transportation infrastructure planning process requires cost–benefit analysis in the evaluation of project proposals. Value of time (VOT) facilitates the conversion of travel time savings, which is a significant proportion of benefits in monetary terms. In cases where VOT has not been established, p...
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oai:animorepository.dlsu.edu.ph:faculty_research-45382021-09-15T07:07:18Z Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines Roxas, Nicanor R. Fillone, Alexis M. Transportation infrastructure planning process requires cost–benefit analysis in the evaluation of project proposals. Value of time (VOT) facilitates the conversion of travel time savings, which is a significant proportion of benefits in monetary terms. In cases where VOT has not been established, planners resort to crude estimates that often results in erroneous or biased measurements of benefits. This is the case of the Western Visayas region in the Philippines where transportation studies are rare. Secondary cities and its peripheral regions have often been overlooked subjects of transportation studies. In this study, multinomial logit models using revealed preference data were estimated to facilitate the calculation of the VOT. The total cost, square of the total cost, and total time were identified as significant explanatory variables affecting mode choice. The square of the total cost term was introduced in the models in order to account for income effect. Results indicate that VOT estimates for the inter-island passenger transportation between Iloilo and Negros Occidental generally range from 78.15PHP to 179.15PHP (1.91USD to 4.37USD) depending on trip and traveller characteristics. © 2015, Springer Science+Business Media New York. 2016-07-01T07:00:00Z text text/html https://animorepository.dlsu.edu.ph/faculty_research/3536 info:doi/10.1007/s11116-015-9611-4 https://animorepository.dlsu.edu.ph/context/faculty_research/article/4538/type/native/viewcontent/s11116_015_9611_4.html Faculty Research Work Animo Repository Passenger ships--Philippines--Western Visayas Transportation--Philippines--Western Visayas Choice of transportation--Philippines--Western Visayas Transportation Engineering |
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Passenger ships--Philippines--Western Visayas Transportation--Philippines--Western Visayas Choice of transportation--Philippines--Western Visayas Transportation Engineering Roxas, Nicanor R. Fillone, Alexis M. Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines |
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Transportation infrastructure planning process requires cost–benefit analysis in the evaluation of project proposals. Value of time (VOT) facilitates the conversion of travel time savings, which is a significant proportion of benefits in monetary terms. In cases where VOT has not been established, planners resort to crude estimates that often results in erroneous or biased measurements of benefits. This is the case of the Western Visayas region in the Philippines where transportation studies are rare. Secondary cities and its peripheral regions have often been overlooked subjects of transportation studies. In this study, multinomial logit models using revealed preference data were estimated to facilitate the calculation of the VOT. The total cost, square of the total cost, and total time were identified as significant explanatory variables affecting mode choice. The square of the total cost term was introduced in the models in order to account for income effect. Results indicate that VOT estimates for the inter-island passenger transportation between Iloilo and Negros Occidental generally range from 78.15PHP to 179.15PHP (1.91USD to 4.37USD) depending on trip and traveller characteristics. © 2015, Springer Science+Business Media New York. |
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Roxas, Nicanor R. Fillone, Alexis M. |
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Roxas, Nicanor R. Fillone, Alexis M. |
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Roxas, Nicanor R. |
title |
Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines |
title_short |
Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines |
title_full |
Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines |
title_fullStr |
Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines |
title_full_unstemmed |
Establishing value of time for the inter-island passenger transport of the Western Visayas region, Philippines |
title_sort |
establishing value of time for the inter-island passenger transport of the western visayas region, philippines |
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Animo Repository |
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2016 |
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https://animorepository.dlsu.edu.ph/faculty_research/3536 https://animorepository.dlsu.edu.ph/context/faculty_research/article/4538/type/native/viewcontent/s11116_015_9611_4.html |
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