A Comprehensive Study for the Systemization and the Practical Application of "Value of Activity Time" Estimation in Weekends

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Quantifying the value of time(VOT) is important for measuring the benefit of transportation projects in terms of travel time saving. In developed countries, VOT is considered higher on weekends than, during the weekdays, because people have limited time on the weekend to allocate to discretionary activities that are not normally done on weekdays, such as family cares. In developing countries, on the contrary, a culturally diverse country, providers and users seem to have different perceptions of VOT. This paper presents a method of analyzing the value of activity time. It argues that the benefit of travel time saving should be evaluated in more detail on weekends by considering the value of discretionary activities, to explain these phenomena theoretically. Activity-diary surveys were conducted in Tokyo and Jakarta to verify the influence of psychological needs on people's holiday activities. Finally, a time-allocation model using revealed preference data and a marginal activity choice … More model using stated preference data are proposed to calculate the value of activity time. The theories underpinning these models are Maslow's psychological needs, consumer theory in economics, and a discrete choice model. The empirical results show that an individual's priority of need influences time-allocation. Particularly, the result shows that in Tokyo, family tune on weekends is more valuable than other types of activity, while in Indonesia the value of family time exceeds that of work time even on weekdays.Moreover, the improvement in the time allocation modeling is accomplished by considering both time and money budget constraints as well as explicitly incorporating latent constructs within mathematically rigorous microeconomic utility maximization framework. Such an enhancement in time allocation modeling is deemed essential in order to incorporate behavioral and socio-psychological factors that, cannot be measured directly but they do have influential effects on time allocations to different activities and VOT values. Inclusion of such factors in the model is the realistic representation of individual's life styles and user perceptions on time use as well as to understand the different VOT values perceived by the individuals for the activities in weekends and weekdays. The guiding philosophy is that such an enhancement in time allocation model allows for a more realistic representation of the behavior inherent in the time allocation decisions and consequently a better estimation of value of time allocated to those activities. Less