VALUING TRAVEL TIME: SOME IMPLICATIONS OF RECENT THEORIES

THE AUTHOR DISCUSSES THE APPLICATION OF THE GENERAL THEORY OF TIME VALUATION TO TRAVEL AND ITS IMPLICATIONS FOR THE ESTIMATION OF TIME SAVINGS ON JOURNEYS UNDERTAKEN DURING WORKING HOURS. DETAILS ARE GIVEN OF STUDIES IN WHICH ATTEMPTS HAVE BEEN MADE TO ESTIMATE THE VALUE OF TIME BY INVESTIGATING THE APPARENT TRADE-OFF BETWEEN TIME AND MONEY BY TRAVELLERS WHO HAVE A CHOICE OF MODE AND A CHOICE OF ROUTES. THE EFFECT OF INCOME LEVELS AND CHANGES OVER TIME IN INCOME LEVELS ON TIME VALUATION IS DISCUSSED, AND FUTURE RESEARCH STRATEGY OUTLINED: MEASUREMENT OF EXISTING TIME VALUES, STUDY OF BEHAVIOURAL CHANGES OVER TIME, NEW VALUATION OF WORKING TIME BASED ON PAST RESEARCH CROSS- SECTIONAL STUDY OF TIME-VALUATION AND INCOME, AND RELATIVE VALUATION OF TRAVELLING TIME AND TRAVELLING AND HOUSING COSTS. SEE ALSO IRRD ABSTRACT NO 203623.

• Corporate Authors:

  Department of The Environment /UK

  /Highway Economics Unit
  ,   United States 
• Authors:
  • Phillips, C J
• Publication Date: 1969-11

Language

• English

Media Info

• Features: References;
• Pagination: 30 p.
• Serial:
  • Issue Number: 10

Subject/Index Terms

• TRT Terms: Costs; Income; Modal split; Present value; Travel time
• Uncontrolled Terms: Value
• Subject Areas: Finance;

Filing Info

• Accession Number: 00228513
• Record Type: Publication
• Source Agency: Transport and Road Research Laboratory (TRRL)
• Report/Paper Numbers: R & D Rpt
• Files: TRIS
• Created Date: Feb 1 1974 12:00AM