Analysis of Value of Time (VoT) and Mode Choice among various regions; A case study for Karachi City

Abstract

Value of Time studies aim to assist transport policies and projects. This subject has been widely researched in last few decade. Rich literature covering data collection, model estimation and results acceptability has already been penned down. However, in developing countries VOT studies are less covered due to their multifaceted dimensions. This study aims to estimate and compare VOT for regions having disparate economic and socioeconomic conditions. Traffic congestion in mega cities is a common phenomenon for developing countries. Numerous studies on congestion cost estimation have been conducted which aims to quantify its monetary losses. Correspondingly, applications of choice models and Value of Time (VOT) assessments through utility maximizing theory are abundantly available in transport literature. However, estimating VOT on congested route for work trips certainly has some gaps to be filled. To recognize the difference under normal and congested network, the current study focuses on VOT estimation for work trips under an extremely congested network. As perceived, results revealed strong impact of travel time and travel cost on (dis)utility of travel. However, their impact was much stronger as compared to other studies. This study attempted to distinguish VOT parameters with regional attributes and economic conditions. These results can be utilized by policy makers to reduce congestion, monetary and time losses through efficient transport planning. To compare the results for congested region, Mode Choice models (ba