1 / 11

Value of Time: How do taxi fares compare with research

Value of Time: How do taxi fares compare with research. Ransford S. McCourt, PE, PTOE DKS Associates. Agenda. Hypothesis: Taxi Fares may provide a verification and comparable measure for researched Value of Time Review Typical Value of Time Findings Survey of Taxi Fares in USA

lok
Download Presentation

Value of Time: How do taxi fares compare with research

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Value of Time:How do taxi fares compare with research Ransford S. McCourt, PE, PTOE DKS Associates

  2. Agenda Hypothesis: Taxi Fares may provide a verification and comparable measure for researched Value of Time • Review Typical Value of Time Findings • Survey of Taxi Fares in USA • Comparison of Results • Possible Consideration

  3. Why is Value of Time Important? Benefit/Cost Analysis Roadway Pricing Studies Travel Demand Forecast Models

  4. Models are based on:Employment, costs (ie. gas) and value of time

  5. How is Value of Time Developed • Stated Choice • Discrete Choice • Preference Surveys • Regionalized Average Wage Data • Logit Equations

  6. Sample Study Findings

  7. Taxi Cost Elements • Bias Elements • Airport Trips • Medical Trips • Out-of-area Trips • Expense Report Cost Elements • Labor/Driver • Insurance • Regulations • Vehicle Costs • Capital • Operations • Maintenance • Market • How much people will pay for travel

  8. Taxi Fares: Top 55 MSA in USA • Average of 12 VOT Studies = $24.15

  9. Taxi Fares: 11 West Coast Cities

  10. Taxi Fares as VOT Input Reasonableness Verification /Confirmation of research Localized Readily Understandable Low Cost

  11. Questions? Randy McCourt rsm@dksassociates.com

More Related