Price and value of time.

Author(s)
Gronau, R.
Year
Abstract

Early studies of the value of time seemed to use the terms "value of time" and "price of time" interchangeably to define the Value or the shadow price people place on their time. It has been pointed out that it may be worthwhile to distinguish between these 2 terms, reserving the term "price" for the amount of money people have to forgo to save 1 unit of time and the term "value" for the amount of money people are willing to pay to save 1 unit of time. A new method is suggested for the estimation of the value of time.

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Publication

Library number
B 11045 (In: B 8552 S) /71/ IRRD 218445
Source

In: Behavioral demand modeling and valuation of travel time : proceedings of conference in South Berwick, Maine, July 8-13, 1973, TRB Special Report No. 149, p. 180-183, 1 graph., 2 ref.

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This publication is one of our other publications, and part of our extensive collection of road safety literature, that also includes the SWOV publications.