This study presents a stochastic model based on the link performance function of the Bureau of Public Roads to assess the reliability of travel time in the transportation network. Empirical studies have verified that the variability of travel time can be ascribed to demand fluctuation and the degradation of the capacity of the stochastic network. The mean-variance approach in previous research presented the budget model of travel time, with the capacity of the stochastic network and elastic

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... nd as the sources of uncertainty of travel time. Previous research was devoted to the study of estimation of travel time considering a single factor or a factor independent of these two sources. Meanwhile, this study introduces the current degeneration coefficient of capacity (CDC) and the density distribution function of road section saturation (DDFS) with simultaneous network capacity and traffic demand. Sensitivity analysis method for the parameters of the proposed model is investigated theoretically using the sensitivity model of traffic capacity degradation. Results of case analysis show that the DDFS and CDC have an effect on the decision of travelers regarding the choice of route. The empirical analysis also illustrates the effectiveness of the computational approach and the proposed model.