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Time Value of Shopping

  • Saburo SaitoEmail author
  • Kosuke Yamashiro
Chapter
Part of the New Frontiers in Regional Science: Asian Perspectives book series (NFRSASIPER, volume 19)

Abstract

In general, travel time and travel fares are different by travel means. With the travel time transformed into money terms by time value of travelers, which can be estimated by data of modal choices, the generalized travel cost is defined as the sum of travel fares and the money term travel time. It enables one to compare different travel modes in terms of money. While many efforts have been made to measure the generalized travel costs and the time value, they are all for the purpose of transportation planning for a wide area such as the metropolitan area. As a result, they rarely have measured the time value for travelers other than commuters. In particular, few research has been done to measure the time value for shoppers who shop around a relatively small area such as the city center retail district. In part, this is because there are no such data as the consumer shop-around OD (origin-destination) flows that include their modal choices at city center retail district. The purpose of this paper is to measure the time value of shopping. Based on the actual data obtained from surveys of consumer shop-around behaviors at the city center retail district of Fukuoka City, we have measured the time value of shopping and analyzed how the time value differs by attributes of shoppers and types of shop-around behaviors. We also provide the application in which the estimated time value of shopping is utilized to forecast modal choices when the 100-yen (one-dollar) circuit bus is introduced at the city center retail district.

Keywords

Time value Shopping Modal choice Kaiyu Shop-around behavior Subway Bus City center 100-yen bus One-dollar circuit bus Retail district 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2018

Authors and Affiliations

  1. 1.Faculty of EconomicsFukuoka UniversityFukuokaJapan
  2. 2.Fukuoka University Institute of Quantitative Behavioral Informatics for City and Space Economy (FQBIC)FukuokaJapan
  3. 3.Department of Business and EconomicsNippon Bunri UniversityOita CityJapan

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