Recent studies show that traveler’s scheduling preferences compose a willingness-to-pay function directly corresponding to aggregate measurement of travel time variability under some assumptions. This property makes valuation on travel time variability transferable from context to context,...

Fosgerau and Karlstrom [The value of reliability. Transportation Research Part B, Vol. 43 (8–9), pp. 813–820, 2010] presented a derivation of the value of travel time variability (VTTV) with a number of desirable properties. This definition of the VTTV depends on certain properties of the...