Time and Passenger Transport

This paper describes how transport economists have fallen into step with their generalist colleagues by treating travel time as a component of overall trip costs, which is termed the generalized cost. Viewed from this standpoint, travel speed has become a key variable in overall transport demand, in that, an increase in speed can potentially mean a generalized cost for the trip. By the same toke, the choice of a given mode of transport will take account relative speed, which will become determinant in the modal split, which is closely correlated to the value of time for different categories of users. Transport users will thereby reveal preferences that public decision makers will have to take into account in investment in transport infrastructure. The second part of the paper considers the basis, contents and implications of this partial reappraisal, which can briefly be summed up as follows. If travel time, instead of being viewed as a variable that needs to be reduced, is treated as a constant in the activity program of individuals then, in certain specific contexts, public policies can be directed towards goals other than that of increasing the collective surplus through a trend increase in speeds.

Language

  • English

Media Info

  • Media Type: Print
  • Features: Bibliography; Figures; Tables;
  • Pagination: pp 25-65
  • Monograph Title: Time and Transport

Subject/Index Terms

Filing Info

  • Accession Number: 01052007
  • Record Type: Publication
  • ISBN: 9282123308
  • Files: TRIS
  • Created Date: Jun 21 2007 4:42PM