IMPLICIT ASSUMPTIONS AND CHOICES AMONG ESTIMATES OF THE VALUE OF TIME

This paper suggests economic criteria for choosing among estimates of the value of time. Four assumptions that are implicit in most models of the value of time are identified and discussed. The accuracy of an estimate of the value of time depends on whether the data and model underlying the estimate take into account the unrealistic nature of these assumptions, either by excluding observations for which the assumptions are especially incorrect or by modifying the model so that the assumptions may be relaxed.

Media Info

  • Media Type: Print
  • Features: References;
  • Pagination: pp 63-68
  • Monograph Title: TRAVEL BEHAVIOR AND VALUES
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00099674
  • Record Type: Publication
  • ISBN: 0309023858
  • Files: TRIS, TRB
  • Created Date: Nov 18 1975 12:00AM