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| Format: | Artículo científico |
| Language: | en |
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Universidad Nacional de Colombia
2014
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| Online Access: | https://www.redalyc.org/articulo.oa?id=49632363021 |
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| _version_ | 1866557966053801984 |
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| author | Margareth Gutiérrez-Torres |
| author_facet | Margareth Gutiérrez-Torres |
| contents | Classic and bayesian estimation of Subjective Value of Time Margareth Gutiérrez-Torres Víctor Cantillo-Maza Ingeniería Keywords Bayesian models Mixed logit models subjective value of time In this paper, we estimate different travel time components in an urban transport context in Bogotá, by using discrete choice models. For the analysis, we evaluate two different approaches for model es timation: the maximum likelihood estimation (classical) and the Bayesian estimation, allowing a comparison between both approaches when are used to estimate the subjective value of time (SVT) as the marginal rate of substitution between time and cost. We found t hat the average SVT when we used the classical estimation is US$0.14/min; meanwhile, the access time was US$0.21/min and the penalty for a transfer is US$0.74. On the other hand, the aver age values estimated when using Bayesian approach were US$0.15/min for the SVT in vehicle, US$0.21/min for the access time and US$0.83 for the transfer penalty. 2014 artículo científico 0012-7353 https://www.redalyc.org/articulo.oa?id=49632363021 en http://www.redalyc.org/revista.oa?id=496 Dyna application/pdf Universidad Nacional de Colombia Dyna (Colombia) Num.187 Vol.81 |
| format | Artículo científico |
| id | redalyc_49632363021 |
| language | en |
| publishDate | 2014 |
| publisher | Universidad Nacional de Colombia |
| spellingShingle | Classic and bayesian estimation of Subjective Value of Time Margareth Gutiérrez-Torres Ingeniería Keywords Bayesian models Mixed logit models subjective value of time Classic and bayesian estimation of Subjective Value of Time Margareth Gutiérrez-Torres Víctor Cantillo-Maza Ingeniería Keywords Bayesian models Mixed logit models subjective value of time In this paper, we estimate different travel time components in an urban transport context in Bogotá, by using discrete choice models. For the analysis, we evaluate two different approaches for model es timation: the maximum likelihood estimation (classical) and the Bayesian estimation, allowing a comparison between both approaches when are used to estimate the subjective value of time (SVT) as the marginal rate of substitution between time and cost. We found t hat the average SVT when we used the classical estimation is US$0.14/min; meanwhile, the access time was US$0.21/min and the penalty for a transfer is US$0.74. On the other hand, the aver age values estimated when using Bayesian approach were US$0.15/min for the SVT in vehicle, US$0.21/min for the access time and US$0.83 for the transfer penalty. 2014 artículo científico 0012-7353 https://www.redalyc.org/articulo.oa?id=49632363021 en http://www.redalyc.org/revista.oa?id=496 Dyna application/pdf Universidad Nacional de Colombia Dyna (Colombia) Num.187 Vol.81 |
| title | Classic and bayesian estimation of Subjective Value of Time |
| topic | Ingeniería Keywords Bayesian models Mixed logit models subjective value of time |
| url | https://www.redalyc.org/articulo.oa?id=49632363021 |