Research On The Value Of Travel Time Based On Transportation Mode Choice

"The Twelfth Five-Year Plan" period is a crucial period for China to build an integrated transport system, especially the domestic high-speed railway construction. So research on the transportation market is increasingly important. This paper will start with the travel choice, and analysis comprehensively the factors affecting choice of passenger transport, and then focus on the value of passenger time, because the time value will largely affect passenger’s transport mode choice, thereby affecting passenger needs. But unlike cost is so intuitive and simple, its measure need some models to analyze and calculate.About the time value of travelers, Foreign and domestic scholars have done a more in-depth research and multi-angle, but most of them are in-depth study of the theory and models of previous studies, and the complexity of the model limits its practical application. The innovation of this paper is on a consolidated basis in each model, considering passenger revenues, travel costs and travel time, safety, comfort factors and service level, simplify and make a reasonable time value calculation model. At last, take Beijing-Taiyuan transport channel for example to get empirical calculations.By calculating, we can get different passenger revenues have different travel time value. Passenger per capita disposable income I>3500,2000<I<3500, K2000respectively are about13,6.5,4Yuan/hour. But the time values are approximately equal to50%of the population per capita income. This conclusion is not only a reference to the various means of transport pricing, but also provides some reference to the rational allocation of transportation resources.