Abstract
This paper uses empirical data to estimate the subjective value of travel time (VOTT) for commuting trips in Hanoi, Vietnam. The study team (including the authors) collected data regarding travel episodes and stated preferences on modal choice for home-to-work/school trips and individual attributes through a face-to-face interview-based questionnaire survey in Hanoi, Vietnam in December 2016. Respondents were requested to answer a series of hypothetical modal choice questions, where two options of motorbike or bus under specific combinations of cost and time were presented. Then, binary logit models were estimated using 6,096 sample data collected from 762 respondents. The results show that the estimated average VOTT is 257.4 VND/min, and the value increases for higher-income subgroups. The estimated VOTT of commuting trips is approximately 43.7% of the average wage rate, which is similar to the corresponding values for other developed countries.
