THE VALUE OF TIME IN TRANSPORT PLANNING: A REVIEW

A FRAMEWORK FOR ESTIMATING PERSONAL VALUES OF WORKING AND NON-WORKING TIME TO BE USED FOR PREDICTING FUTURE TRAVEL AND APPRAISAL OF TRANSPORT INVESTMENT BY COST/BENEFIT METHODS IS TO BE ESTABLISHED. SOME THEORIES OF EVALUATION ARE DESCRIBED. THE MARGINAL PRODUCT CONCEPT IS APPROPRIATED FOR WORKING TIME, BUT NON-WORKING TIME VALUES SHOULD BE DERIVED BEHAVIORALLY FROM ANALYSIS OF REVEALED PREFERENCES. A DISCUSSION ON MEASUREMENT METHODS FOLLOWS WITH PARTICULAR REGARD TO ANALYSIS TECHNIQUES AND CHOICE SITUATIONS FOR NON-WORKING TIME. FOLLOWING A DISCUSSION OF EMPIRICAL WORK DONE IN UK AND ELSEWHERE, A NUMBER OF PROPOSITIONS ABOUT TIME VALUES ARE ADVANCED. THE USE OF TIME VALUES, A COMPREHENSIVE BIBLIOGRAPHY, AND A DETAILED REVIEW OF SELECTED EMPIRICAL STUDIES ARE PRESENTED. /RRL(A)/

• Supplemental Notes:
  • Mau Note 154, PP I & 98, 2 FIG, 43 REF
• Corporate Authors:

  Ministry of Transport, England

  Mathematical Advisory Unit
  London SE1,   England 
• Authors:
  • Harrison, A J
  • Quarmby, D A
• Publication Date: 1970-1

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Economics; Evaluation; Investments; Time; Transportation; Transportation planning; Travel; Work trips
• Subject Areas: Economics; Society; Transportation (General);

Filing Info

• Accession Number: 00201491
• Record Type: Publication
• Source Agency: Road Research Laboratory /UK
• Files: TRIS
• Created Date: Aug 1 1971 12:00AM