| > This is only benefitting people for whom 25 minutes is worth $20/$22.50. This is addressed in the RFQ, which includes a model of time value split into four markets: Business (HH income under $100K) $33 Business (HH income $100K and over) $92 Non-Business (HH income under $100K) $25 Non-Business (HH income $100K and over) $55 It includes this reasoning: >In the Project work, the values were adapted from a previous study on express service which found that the value of time for business trips is higher than those of non-business trips to O’Hare. In many recent studies, the value of time for long distance trips and work trips has been shown to be higher than VOT for everyday short trips. Trips to/from an airport could be considered as one leg of long distance travel. Also, the total cost of air travel is much higher than the cost of everyday travel; therefore, travelers may be willing to pay more to reduce the risk of missing their flight. Willingness to pay a high fee for airport trips is reported in other studies, for example, for business trips to airports, Harvey reports $42/hour, Furuichi & Koppelman report $73/hour and Hess and Polak report a value in the range of $93-155/hour. The value of time also varies across regions with large metropolitan areas such as New York/New Jersey having higher values than smaller cities. In the cited 2016 Airport Survey, taxi rides are still in the double digits for non-business low-income residents and drop-offs are as popular as rail (tripling the amount of time to account for, though I don't think they include this). In their reweighting of the survey (because "the Blue Line survey percentage was thought to be high due to over-represented CTA Blue Line use), the plurality took taxis in every category. http://chicagoinfrastructure.org/wp-content/uploads/2017/11/... |