Incorporating Differences in Marginal Utilities of Time across Activities in a Time Allocation Model

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Title Incorporating Differences in Marginal Utilities of Time across Activities in a Time Allocation Model
Author Nepal, Kali Prasad; Fukuda, Daisuke; Yai, Tetsuo
Journal Name Journal of the Eastern Asia Society for Transportation Studies
Year Published 2007
Place of publication Japan
Publisher Eastern Asia Society for Transportation Studies
Abstract Most existing activity time allocation models assume that individuals allocate their time to different activities over a period in such a way that the marginal utilities of time across activities are equal. Their argument is that, if not equal, an individual is free to allocate more time to those activities whose marginal utilities of time are higher and, finally allocates the optimal time to each activity with equal marginal utility. However, such an ideal situation may not always prevail in reality, especially when an individual is under income constraint and/or under intense time pressure. In order to incorporate such differences in marginal utilities of time across activities, we enrich the traditional activity time allocation model by explicitly including income constraint and by adding marginal extension activity choice model. As an application, the developed integrated model is used to estimate the value of activity time during weekends in Tokyo. The results are encouraging in that they forecast the individual time allocation more accurately and estimate realistically the value of activity time for each activity in a set of different activities than do by existing traditional models.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.easts.info/on-line/journal.htm
Volume 7
Page from 499
Page to 514
ISSN 1881-1124
Date Accessioned 2010-03-15
Date Available 2010-08-16T06:49:20Z
Language en_AU
Faculty Faculty of Science, Environment, Engineering and Technology
Subject Transportation and Freight Services
URI http://hdl.handle.net/10072/33489
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1x

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