RECENT FINDINGS ON THE VALUE OF TIME

The modeling background is described, the limitations to value of time assessment are set out and analysis procedures are detailed. In analysing data to establish values, both 'Absolute' and 'Difference' formulations of the hypotheses variable are considered. Three bus car data sets are analyzed and observations are made with regard to bus times, bus cost, and car cost. The time and cost coefficients of the discriminant analysis equations are shown, and the effect of the amalgamation of waiting, walking and invehicle times to total travel time variables are tabulated. The amalgamation of variables into the difference formulation suggests that in overall terms the combining of variables has improved significance, so that values of times may be achieved for all variables. The study results relating to walking time tario with cost, the waiting time difference (bus waiting time) variable, and invehicle time difference are outlined. Comment is also made on the aggregation difference variables.

• Supplemental Notes:
  • This paper appears in "Urban Traffic Models", which is a publication containing the Proceedings of Seminar N of the Summer Annual Meeting at University of Warwick, England during July, 1975.
• Corporate Authors:

  Planning and Transport Res and Computation Co Ltd

  167 Oxford Street
  London W1R 1AH,   England 
• Authors:
  • METCALF, A E
  • MARKHAM, J
• Publication Date: 1975-7

Media Info

• Features: References; Tables;
• Pagination: p. 295-315
• Serial:
  • Publication of: IRCOBI SECRETARIAT
  • Publisher: IRCOBI (International Research Council on the Biokinetics of Impacts)

Subject/Index Terms

• TRT Terms: Automobiles; Bus transportation; Data analysis; Economics; Mathematical analysis; Mathematical models; Time; Transportation; Travel time; Waiting time; Walking
• Uncontrolled Terms: Models
• Subject Areas: Economics; Operations and Traffic Management; Transportation (General);

Filing Info

• Accession Number: 00148104
• Record Type: Publication
• Report/Paper Numbers: P122
• Files: TRIS
• Created Date: Feb 23 1977 12:00AM