The author divided cost-benefit studies into two parts: statistical and speculative. The latter consists of the evaluation of time sauings and it is argued that these vary greatly, according to the values usedy which are in any event arbitrary. This is illustrated using the M1 motorway and Victoria Line studies. Examining working time suggests that not all time saved is used for work, yet in other situations schedules are changed and new routes added for goods vehicles, and population and industry is re-arranged. A worked example demonstrates that there is a significant economic difference between many people saving a short time and few saving a long time. Regarding leisure, it is difficult to equate eating with journeys to work and with general leisure pursuits. Many factors which determine travel habits are ignored, it is suggested. These are, amount of time saved relative to total trip time, journey breaks, reliability, time-tabling, comfort and convenience. Thus road pricing is artificial: there is a criticism of the smeed report because of the sensivity of the results to changes in time saving valuations. Further, the rest of the population would have no say in investment in transport. Concluding, the author writes that such investment involves a political decision. Only when a level of traffic has been fixed, can road pricing be used. /TRRL/

  • Corporate Authors:

    MacMillan Journals Limited

    4 Little Essex Street
    London WC2R 3LF,   England 
  • Authors:
    • Tipping, D G
  • Publication Date: 1968-12


  • English

Media Info

  • Features: Figures; References; Tables;
  • Pagination: p. 843-854
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00097810
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Files: ITRD, TRIS
  • Created Date: Sep 10 1975 12:00AM