A Critical Appraisal of Use of Simple Time-Money Trade-Offs for Appraisal Value of Time Measures
Stated choice surveys have established themselves as the preferred approach for value of time elicitation with the help of choice models. However, major differences exist in the approaches used across regions. While studies in Europe (especially Northern Europe) continue to rely extensively on very simple time-money trade-offs, those in Australia and South America especially follow the notion that more complex and hence realistic setups are preferable. The present paper aims to provide a critical appraisal of the use of simple time-money trade-offs, drawing from experience in recent European studies. The authors highlight a number of issues, in terms of differences in valuations across formats as well as a lack of clarity on how respondents actually interpret travel time in simple time-money trade-offs.
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Supplemental Notes:
- This paper was sponsored by TRB committee ADB10 Standing Committee on Traveler Behavior and Values.
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Corporate Authors:
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Authors:
- Hess, Stephane
- Daly, Andrew
- Börjesson, Maria
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Conference:
- Transportation Research Board 96th Annual Meeting
- Location: Washington DC, United States
- Date: 2017-1-8 to 2017-1-12
- Date: 2017
Language
- English
Media Info
- Media Type: Digital/other
- Features: Figures; References; Tables;
- Pagination: 16p
- Monograph Title: TRB 96th Annual Meeting Compendium of Papers
Subject/Index Terms
- TRT Terms: Costs; Methodology; Time; Travel time; Valuation; Value of time
- Geographic Terms: Europe
- Subject Areas: Planning and Forecasting; Transportation (General);
Filing Info
- Accession Number: 01629523
- Record Type: Publication
- Report/Paper Numbers: 17-05634
- Files: TRIS, TRB, ATRI
- Created Date: Mar 20 2017 9:23AM