ESTIMATING THE VALUE OF TIME: AN ADDITIONAL MISSPECIFICATION ERROR

This note is an extension of arguments made in an earlier article by J. Guttman in this journal. It points out a specification error in estimating the value of time when parking costs are added to modal running costs, to create a single cost variable. After developing arguments for separating modal costs from parking costs, estimates for Toronto are provided. These estimates demonstrate the magnitude of this type of aggregation bias. (a) /TRRL/

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/00494488
• Corporate Authors:

  Elsevier

  Radarweg 29
  Amsterdam,   Netherlands  1043 NX
• Authors:
  • Gillen, D W
• Publication Date: 1977-3

Language

• English

Media Info

• Features: Figures; References;
• Pagination: p. 85-89
• Serial:
  • Transportation (Netherlands)
  • Volume: 6
  • Issue Number: 1
  • Publisher: Martinus Nijhoff Publishers
  • ISSN: 0049-4488

Subject/Index Terms

• TRT Terms: Costs; Errors; Evaluation and assessment; Operating costs; Parking; Pay parking; Present value; Time; Urban areas
• Uncontrolled Terms: Parking costs; Value
• Geographic Terms: Canada
• ITRD Terms: 8018: Canada; 224: Cost; 6440: Error; 9020: Evaluation (assessment); 221: Operating costs; 955: Parking; 5414: Time; 313: Urban area
• Subject Areas: Administration and Management; Finance; Highways; Operations and Traffic Management; Planning and Forecasting; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 00156482
• Record Type: Publication
• Source Agency: Transport and Road Research Laboratory (TRRL)
• Report/Paper Numbers: Analytic
• Files: ITRD, TRIS
• Created Date: Oct 13 1977 12:00AM