Estimates of Willingness to Pay and Value of Time for the Dynamic Toll Lanes in Freeway PR-22 in Puerto Rico

Abstract

Willingness-to-pay measures were estimated for users of the PR-22 Freeway in the Commonwealth of Puerto Rico. The first dynamic toll lane (DTL) facility in Puerto Rico started operations in 2013 on PR-22. The PR-22 segment examined consists of two reversible express lanes along the median with a dynamic pricing scheme and six general traffic lanes with a fixed toll rate. Willingness-to-pay for the DTL was assessed using the Van Westendorp Price Sensitivity Meter (VWPSM) analysis. Moreover, discrete choice analysis was used to estimate the users’ willingness to pay for travel time savings. The data used in this analysis was obtained through an online survey that presented participants with direct willingness-to-pay questions, toll lane choice scenarios, and, for declared DTL users, questions about their reasons for using the facility. The aggregate analysis of the VWPSM estimated a willingness-to-pay range for the DTL of $1.00 to $2.79, which is lower than the maximum toll rate of $4.95 charged for the managed lane facility. The stated preference scenarios provided a value of time (VOT) estimate of $21.47 per hour. The VOT value is higher than the estimate for local personal travel of $10.00 per hour. There is evidence in support of inflated VOT values for high-occupancy toll lanes and variable toll facilities. Another reasoning could be that PR-22 users overestimated their time savings. Still, the estimated VOT for the PR-22 DTL is relatively low in comparison with other managed lane facilities in the United States.