VALUE OF TIME, MODAL CHOICE AND THE JUSTIFICATION FOR ROAD IMPROVEMENT

In spite of the key role assigned to the concept of the "value of time" or the "value of time saved," there is little direct empirical evidence to support the large and predominant "time" values which are now firmly established in the highway planning methodology. A consistent bias in stated travel times and a widespread incidence of unknown car costs, have serious implications for the current theory of modal choice. A survey of urban journey to work behavior in Vancouver shows that the marginal value of travel time savings is not a fixed proportion of the wage rate and that a better index of disposable income, which might include family structure or stage in the life cycle, must be developed before separate group values can be validly used in applied planning studies.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/0266450X
• Supplemental Notes:
  • Proceedings of Summer Annual Meeting: Highway Planning, PTRC/P/107.
• Corporate Authors:

  Planning and Transport Res and Computation Co Ltd

  167 Oxford Street
  London W1R 1AH,   England 
• Authors:
  • Heggie, I G
• Publication Date: 1974

Media Info

• Pagination: p. 14-40
• Serial:
  • Publication of: Planning and Transport Res and Computation Co Ltd
  • Publisher: Planning and Transport Res and Computation Co Ltd
  • ISSN: 0266450-X

Subject/Index Terms

• TRT Terms: Employee compensation; Highway planning; Highways; Improvements; Income; Life cycle analysis; Mode choice; Productivity; Transportation planning; Travel time; Work trips
• Uncontrolled Terms: Time savings
• Old TRIS Terms: Modal selection
• Subject Areas: Economics; Highways; Society;

Filing Info

• Accession Number: 00084704
• Record Type: Publication
• Report/Paper Numbers: PTRC/P/107
• Files: TRIS
• Created Date: Jul 2 1975 12:00AM