Willingness-to-Pay Survey and Modelling for High Occupancy Toll Lanes: Case Study Highway 427, Toronto, Ontario

High Occupancy Toll (HOT) lanes are considered as one of the traffic management strategies to efficiently utilize the available roadway capacity. In order to understand drivers’ reactions to the planned HOT lane along the Highway 427 corridor in the City of Toronto and estimate the value of time (VOT) and value of reliability (VOR), a web-based stated preference survey was carefully designed and conducted. Using Multinomial Logit (MNL) and Nested Logit (NL) models, the travellers’ willingness-to-pay was derived as the trade-off between travel time saved and toll incurred. The models were further estimated for different market segments.