A method for measuring and valuing transport time variability in logistics and cost benefit analysis

The effects of delays can be divided into four main types: System Killers, Catastrophic Events, Expected Risks, and Contingencies, of which the last two are relevant for VTTV. The model applies these in a two-step cost function with a fixed and variable part, building on previous studies of VTVV for passenger transport based on the scheduling utility approach. A main theoretical result is that the estimation of VTTV is derived mathematically independently of which measure that is chosen for the quantification of TTV.