Value of Time for Commercial Vehicle Operators in Minnesota

Journal of the Transportation Research Forum, Vol. 44, No. 1, pp. 89-102, 2005

28 Pages Posted: 11 Feb 2008

See all articles by Brian Smalkoski

Brian Smalkoski

affiliation not provided to SSRN

David Matthew Levinson

affiliation not provided to SSRN

Abstract

The spring load restriction policy of Minnesota has been in effect for over 50 years with little consideration given to the cost that it imposes on the freight industry. A cost-benefit study was recently commissioned to examine the policy. The cost-benefit analysis required a precise estimate of the value of time for commercial vehicle operators in Minnesota. An estimate was not available from previous studies, or from previous data. The necessary revealed preference (RP) information does not exist, and relevance of previous studies was questioned based on the differences in geographic location and the age of data used to construct the estimates. A sample was constructed from several trucking industry sources to conduct a survey. Interviews were conducted using an adaptive stated preference (ASP) survey to derive an estimate to the nearest dollar. A tobit model was fit to the data from the interviews to derive the estimate for value of time. A mean of $49.42 was found, with a 95% confidence interval from $40.45 to $58.39. Variation in the distribution of values is largely undetermined, with the exception of fleet operation, whether it is a for-hire truck fleet, or a private truck fleet.

Suggested Citation

Smalkoski, Brian and Levinson, David Matthew, Value of Time for Commercial Vehicle Operators in Minnesota. Available at SSRN: https://ssrn.com/abstract=1091828

Brian Smalkoski

affiliation not provided to SSRN ( email )

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David Matthew Levinson (Contact Author)

affiliation not provided to SSRN

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