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In research on the value of past time, the value of travel time and the valueof saving travel time are two different concepts that have been vaguelydistinguished over an extended period of time. This paper applies the theory ofperspectives to discuss differences in the value of travel time and savings intravel time between different respondent groups and under different models. Tothis end, this paper designs an RP-SP questionnaire for urban travel behaviour,and collects data on the travel preferences of 409 Guangzhou residents. Byintroducing potential profiling to capture the effects of heterogeneity betweenclasses, the respondent group is divided into three categories according to itsindividual socio-economic characteristics such as age, income, educationalattainment, etc. After that, the utility function of travelers is established,and the MNL model, MIXL model, S-MNL model, G-MNL model, LCL model and MM-MNLmodel are selected for the total sample and three types of groups to estimatethe time value. This paper emphasizes the definitions of VTT and VTTS, andpresents a method for estimating VTT and VTTS using LPA to identify travelerheterogeneity.

Comparing value of travel time and value of travel time saving with heterogeneity in travelers