SOME THOUGHTS ON A MARGINAL PRODUCTIVITY THEORY OF THE VALUE OF TRAVEL TIME

THE FIRST PART OF THIS NOTE STUDIES THE APPLICATIONS OF THE CONCEPTS OF THE PRODUCTION THEORY TO TRAVEL AND EXAMINES TWO POSSIBLE APPROACHES: THE FIRST CONSIDERS TRAVEL IN ISOLATION, ALLOWING NO POSSIBLE SUBSTITUTION BETWEEN TRAVEL AND THE CONSUMPTION OF FINAL GOODS IN CONSUMER OUTLAYS, THE SECOND TREATS THESE FINAL GOODS AS A VARIABLE COMPOUND OF COMMODITIES AND TRAVEL. THE REST OF THE NOTE IS DEVOTED TO THE MORE GENERAL CASE, WHERE THE CONSUMER MAY IN PRODUCING HIS "OUTPUT" OF FINAL GOODS, ADJUST BOTH COMMODITIES AND TRAVEL SUBJECT TO OVERALL MONEY AND TIME CONSTRAINTS. SEE ALSO IRRD ABSTRACT NO 203623.

  • Corporate Authors:

    Department of The Environment /UK

    /Highway Economics Unit
    ,   United States 
  • Authors:
    • Mansfield, N W
  • Publication Date: 1970-11

Media Info

  • Features: Figures; References;
  • Pagination: 14 p.
  • Serial:
    • Issue Number: 20

Subject/Index Terms

Filing Info

  • Accession Number: 00228522
  • 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