MATEC Web Conf.
Volume 138, 2017The 6th International Conference of Euro Asia Civil Engineering Forum (EACEF 2017)
|Number of page(s)||6|
|Published online||30 December 2017|
Analysis of The Time Value for Public Transport Passenger by Using Random Regret Minimization
Department of Civil Engineering, University of Sumatera Utara, Indonesia
This study aims to analyze the value of time a public transport passengers in Medan which is the amount of money issued by a person who was willing to save one unit of time traveling. An investment in transport projects should consider the high or low travel speeds for road users, whenever he or she is the driver, passengers or goods that were transported. Savings or reduction in the value of time is one of the advantages in transportation projects. Random Regret Minimization is a new method that can be used to calculate the value of time. The value of the travel time of passenger public transportation Medan with Random Regret Minimization method is Rp.6687.52/hour/person. Regret Minimization showed significantly different results with the Mode Choice Approach method and the Income Approach. This shows the tendency of public transport passengers in Medan to avoid the regret that will arise when the monorail will operate later.
© The Authors, published by EDP Sciences, 2017
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (http://creativecommons.org/licenses/by/4.0/).
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