Abstract
Quantification of the value of time (VOT) is important for measurement of the benefit of transportation projects in terms of travel time savings. In Japan, VOT is considered higher on weekends than on weekdays because on the weekend people have limited time to allocate to discretionary activities that are not normally done on weekdays, such as family care-related activities. In Indonesia, a culturally diverse country, providers and users seem to have different perceptions of VOT. A method of analyzing the value of activity time is presented. It argues that the benefit of travel time saving should be evaluated in more detail on weekends by considering the value of discretionary activities to explain these phenomena theoretically. Activity diary surveys were conducted in Tokyo, Japan, and Jakarta, Indonesia, to verify the influence of psychological needs on people's holiday activities. Finally, a time allocation model that uses the revealed preference data and a marginal activity choice model that uses stated preference data are proposed to calculate the value of activity time. The theories underpinning these models are Maslow's psychological needs, consumer theory in economics, and a discrete choice model. The empirical results show that an individual's priority of needs influences time allocation. In particular, the results show that in Tokyo, spending time with family on weekends is more valuable than other types of activities, while in Indonesia the value of spending time with family exceeds that of work time even on weekdays.
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