Value Of Time estimation considering Autonomous Vehicles Impacts

VOTAVI targets the exploration of Value of Time and pricing for Transport Services in the era of autonomous driving. Through a number of innovations, VOTAVI will investigate the impact of autonomous driving and the implementation of different dynamic schemes on travel behaviour and preferences. A comprehensive methodology will be developed that will integrate all relevant aspects and allow for a widespread value creation: data-collection, model specification and estimation, impact estimation and assessment and policy recommendations. A specially designed survey will collect data about travel behaviour, focusing on ways to quantify the influence of autonomous vehicles. Various types of models for the estimation of distributions of values of time will be developed, using these data-sets, including models capturing the dynamic evolution of the value of time. Furthermore, innovative approaches, such as machine learning techniques, will be employed to take advantage of the incorporation of the novel emerging data. Based on the estimated new values of travel time, transport services providers can assess the impacts of autonomous vehicles on demand for various scenarios. The new values of travel time will feed into cost-benefit approaches as the basis for the assessment of transport investments. The outcome of this analysis will be used to foster policy recommendations.