We derive the value of reliability in the scheduling of an activity of random duration, such as travel under congested conditions. Using a simple formulation of scheduling utility, we show that the maximal expected utility is linear in the mean and standard deviation of trip duration, regardless...

We derive the value of reliability in the scheduling of an activity of random duration, such as travel under congested conditions. We show that the minimal expected cost is linear in the mean and standard deviation of duration, regardless of the form of the standardized distribution of...

In this paper a new measure of spatial association, the S statistics, is developed. The proposed measure is based on information theory by defining a spatially weighted information measure (entropy measure) that takes the spatial configuration into account. The proposed S-statistics has an...

In this paper we discuss Hicksian demand and compensating variation in the context of discrete choice. We first derive Hicksian choice probabilities and the distribution of the (random) expenditure function in the general case when the utilities are nonlinear in income. We subsequently derive...

This article estimates the Value of Commuting Time (VOCT) among Swedish males in an empirical on-the-job search model. It uses a large sample of employee-establishment linked data obtained from administrative registers. The sample lacks information on mode choice for the journey to work. We...

Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced...