Travel time savings: what do you pay for fast public transport? The value that a traveller gives to his trip, is expressed in monetary terms. This is done to use it in the assessment of benefits resulting from travel time savings. Such benefits can occur due to the construction of new infrastructure. Travel time savings often are an important benefit item in cost-benefit analysis. The size of values of time depends on a.o. motive, mode and income of a traveller. So far, it has been assumed in cost benefits assessments that values of time are constant in time. From analysis of shifts in income categories, it is however concluded that values of time do increase over time. This has its implications for cost benefit analysis, since the benefits of travel time savings will be much higher. When deciding on infrastructure projects, this can be of major importance. (Author/publisher)
Abstract