Investigating the Value of Time and Value of Reliability for Managed Lanes

The objectives of this project are: (1) quantify the value of time (VOT) and the value of reliability (VOR) indicators that contribute to the willingness to pay, and explore the dataset needed to understand the behavior changes in responding to managed lanes (MLs); (2) examine how the impacts of MLs differ among users and under various circumstances, how to represent user heterogeneity; and (3) ecommend approaches to derive the VOT and VOR for incorporation into the Florida State University Urban Transportation Model (FSUTMS) framework.