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Incorporating differences in marginal utilities of time across activities in a time allocation model

Nepal, Kali Prasad, Fukuda, Daisuke and Yai, Testuo 2007, Incorporating differences in marginal utilities of time across activities in a time allocation model, in EASTS 2007 : Proceedings of the Eastern Asia Society for Transportation Studies, Eastern Asia Society for Transportation Studies, Dalian, China, pp. 1-16.

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Title Incorporating differences in marginal utilities of time across activities in a time allocation model
Author(s) Nepal, Kali Prasad
Fukuda, Daisuke
Yai, Testuo
Conference name Eastern Asia Society for Transportation Studies. Conference (7th : 2007 : Dalian, China)
Conference location Dalian, China
Conference dates 24-27 Sep. 2007
Title of proceedings EASTS 2007 : Proceedings of the Eastern Asia Society for Transportation Studies
Editor(s) [Unknown]
Publication date 2007
Conference series Eastern Asia Society for Transportation Studies
Start page 1
End page 16
Total pages 16
Publisher Eastern Asia Society for Transportation Studies
Place of publication Dalian, China
Keyword(s) Marginal Utilities
Income constraint
Time allocation
Summary 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.
Language eng
Field of Research 099999 Engineering not elsewhere classified
Socio Economic Objective 970109 Expanding Knowledge in Engineering
HERDC Research category E1.1 Full written paper - refereed
Copyright notice ©2007, Eastern Asia Society for Transportation Studies
Free to Read? Yes
Persistent URL http://hdl.handle.net/10536/DRO/DU:30049202

Document type: Conference Paper
Collections: School of Engineering
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.