THE PERCEIVED V ACTUAL COSTS DEBATE - SOME IMPLICATIONS OF A HARD AND FAST DOGMA

THIS NOTE EXAMINES THE DIFFERENT PURPOSES FOR WHICH TIME VALUES ARE EMPLOYED. AN ATTEMPT IS MADE TO SHOW THE IMPLICATIONS OF THESE PURPOSES FOR THE WAY IN WHICH TIME VALUES MIGHT BE DERIVED. A DISTINCTION IS DRAWN BETWEEN TRUE "PRECEIVED DATA" AND GENERAL "BEHAVIOURAL DATA" AND THE USE OF MODELS FOR FORECASTING DISTRIBUTION, MODAL SPLIT AND TRAFFIC ASSIGNMENT FOR URBAN OR INTER-URBAN TRANSPORT IS DISCUSSED. IT IS SUGGESTED THAT FOR PREDICTIVE PURPOSES, VALUES OF TIME SHOULD BE BASED ON "REAL" DATA ON TIMES AND COST, WHILE THE EVALUATION OF THE BENEFITS FROM TRANSPORT INVESTMENTS SHOULD USE VALUES BASED ON "PERCEPTUAL" DATA. SEE ALSO IRRD ABSTRACT NO 203623.

• Corporate Authors:

  Department of The Environment /UK

  /Highway Economics Unit
  ,   United States 
• Authors:
  • Mansfield, N W
• Publication Date: 1970-12

Language

• English

Media Info

• Features: References;
• Pagination: 7 p.
• Serial:
  • Issue Number: 19

Subject/Index Terms

• TRT Terms: Costs; Forecasting; Mathematical models; Modal split; Present value; Time; Traffic assignment; Trip distribution
• Uncontrolled Terms: Models; Value
• Subject Areas: Finance; Operations and Traffic Management;

Filing Info

• Accession Number: 00228521
• 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