THE VALUE OF TIME IN TRANSPORT PLANNING: A REVIEW
A FRAMEWORK FOR ESTIMATING PERSONAL VALUES OF WORKING AND NON-WORKING TIME TO BE USED FOR PREDICTING FUTURE TRAVEL AND APPRAISAL OF TRANSPORT INVESTMENT BY COST/BENEFIT METHODS IS TO BE ESTABLISHED. SOME THEORIES OF EVALUATION ARE DESCRIBED. THE MARGINAL PRODUCT CONCEPT IS APPROPRIATED FOR WORKING TIME, BUT NON-WORKING TIME VALUES SHOULD BE DERIVED BEHAVIORALLY FROM ANALYSIS OF REVEALED PREFERENCES. A DISCUSSION ON MEASUREMENT METHODS FOLLOWS WITH PARTICULAR REGARD TO ANALYSIS TECHNIQUES AND CHOICE SITUATIONS FOR NON-WORKING TIME. FOLLOWING A DISCUSSION OF EMPIRICAL WORK DONE IN UK AND ELSEWHERE, A NUMBER OF PROPOSITIONS ABOUT TIME VALUES ARE ADVANCED. THE USE OF TIME VALUES, A COMPREHENSIVE BIBLIOGRAPHY, AND A DETAILED REVIEW OF SELECTED EMPIRICAL STUDIES ARE PRESENTED. /RRL(A)/
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Supplemental Notes:
- Mau Note 154, PP I & 98, 2 FIG, 43 REF
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Corporate Authors:
Ministry of Transport, England
Mathematical Advisory Unit
London SE1, England -
Authors:
- Harrison, A J
- Quarmby, D A
- Publication Date: 1970-1
Subject/Index Terms
- TRT Terms: Benefit cost analysis; Economics; Evaluation; Investments; Time; Transportation; Transportation planning; Travel; Work trips
- Subject Areas: Economics; Society; Transportation (General);
Filing Info
- Accession Number: 00201491
- Record Type: Publication
- Source Agency: Road Research Laboratory /UK
- Files: TRIS
- Created Date: Aug 1 1971 12:00AM