Estimating the Benefits of Managed Lanes

Project Description

Stated preference studies developed to estimate travelers' value of travel time savings (VTTS) on managed lanes (MLs) may underestimate VTTS. This study investigated survey design strategies and ways to differentiate VTTS for ordinary situations and common urgent situations faced by travelers. Researchers used an internet-based survey to collect data to:

• study the effect of survey design strategies that would lead to a better design strategy for internet-based stated preference surveys of potential managed lane travelers;
• estimate the difference in VTTS for ordinary as compared to urgent travel situations for managed lane travelers; and
• better understand and estimate the benefits of managed lanes.

Researchers found that travelers attach the highest value to urgent situations where travelers were running late for an important meeting or event. Since the benefits of MLs (and of most transportation investments) are primarily derived from travel time savings, using average VTTS will greatly underestimate the value of these MLs to travelers, creating significant policy implications. This study provides an important first step in properly estimating these benefits using revised stated preference survey designs.

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