VALUE OF TIME, MODAL CHOICE AND THE JUSTIFICATION FOR ROAD IMPROVEMENT

In spite of the key role assigned to the concept of the "value of time" or the "value of time saved," there is little direct empirical evidence to support the large and predominant "time" values which are now firmly established in the highway planning methodology. A consistent bias in stated travel times and a widespread incidence of unknown car costs, have serious implications for the current theory of modal choice. A survey of urban journey to work behavior in Vancouver shows that the marginal value of travel time savings is not a fixed proportion of the wage rate and that a better index of disposable income, which might include family structure or stage in the life cycle, must be developed before separate group values can be validly used in applied planning studies.

  • Availability:
  • Supplemental Notes:
    • Proceedings of Summer Annual Meeting: Highway Planning, PTRC/P/107.
  • Corporate Authors:

    Planning and Transport Res and Computation Co Ltd

    167 Oxford Street
    London W1R 1AH,   England 
  • Authors:
    • Heggie, I G
  • Publication Date: 1974

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00084704
  • Record Type: Publication
  • Report/Paper Numbers: PTRC/P/107
  • Files: TRIS
  • Created Date: Jul 2 1975 12:00AM