IMPLICIT ASSUMPTIONS AND CHOICES AMONG ESTIMATES OF THE VALUE OF TIME

This paper suggests economic criteria for choosing among estimates of the value of time. Four assumptions that are implicit in most models of the value of time are identified and discussed. The accuracy of an estimate of the value of time depends on whether the data and model underlying the estimate take into account the unrealistic nature of these assumptions, either by excluding observations for which the assumptions are especially incorrect or by modifying the model so that the assumptions may be relaxed.

• Record URL:
  • http://onlinepubs.trb.org/Onlinepubs/trr/1975/534/534-006.pdf
• Record URL:
  • https://scholar.google.com/scholar_lookup?title=IMPLICIT+ASSUMPTIONS+AND+CHOICES+AMONG+ESTIMATES+OF+THE+VALUE+OF+TIME&author=J.+Guttman&publication_year=1975
• Availability:
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• Supplemental Notes:
  • Publication of this paper sponsored by Committee on Traveler Behavior and Values. Distribution, posting, or copying of this PDF is strictly prohibited without written permission of the Transportation Research Board of the National Academy of Sciences. Unless otherwise indicated, all materials in this PDF are copyrighted by the National Academy of Sciences. Copyright © National Academy of Sciences. All rights reserved
• Corporate Authors:

  Transportation Research Board

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• Authors:
  • Guttman, Joel M
• Conference:
  • 54th Annual Meeting of the Transportation Research Board
  • Location: Washington District of Columbia
  • Date: 1975-1-13 to 1975-1-17
• Publication Date: 1975

Media Info

• Media Type: Print
• Features: References;
• Pagination: pp 63-68
• Monograph Title: TRAVEL BEHAVIOR AND VALUES
• Serial:
  • Transportation Research Record
  • Issue Number: 534
  • Publisher: Transportation Research Board
  • ISSN: 0361-1981

Subject/Index Terms

• TRT Terms: Accuracy; Economic factors; Estimates; Mathematical models; Present value; Time
• Uncontrolled Terms: Models; Value
• Old TRIS Terms: Economic considerations
• Subject Areas: Economics; Highways; Planning and Forecasting;

Filing Info

• Accession Number: 00099674
• Record Type: Publication
• ISBN: 0309023858
• Files: TRIS, TRB
• Created Date: Nov 18 1975 12:00AM