Impact of Value of Time (VOT) on toll roads

This paper provides a brief overview of the concept of value of time (VOT), in the context of toll road schemes. VOT analysis determines the tradeoffs travelers make between time and tolls. The analysis is very important when considering the choice between tolled and un-tolled alternatives. Using travel demand model of Fresno, CA, I provide a sensitivity analysis showing how the outcomes of tolling schemes can change with varying VOT levels