Abstract
THE REVEALED-PREFERENCE APPROACH TO TIME SAVINGS VALUATION HAS COME UNDER INCREASING CRITICISM IN RECENT YEARS. AN ALTERNATIVE METHOD, USING A DIRECT EXPERIMENTAL APPROACH, WHICH IS MORE FLEXIBLE AND MORE INFORMATIVE, IS PROPOSED. ITS RELIABILITY IS DEPENDENT ON THE RELIABILITY OF THE EXPERIMENTAL DATA. WHEN THE DATA CONTAIN INCONSISTENCIES OR JUDGEMENTAL ERRORS, THE VALUES OF TIME OBTAINED MAY BECOME 'IRRATIONAL' FROM AN ECONOMIC THEORY VIEWPOINT. THESE POINTS ARE ILLUSTRATED BY APPLYING THE DIRECT EXPERIMENTAL APPROACH TO A 1982 JOURNEY-TO-WORK DATA SET. THE TIME VALUES OBTAINED ARE DISCUSSED, AND METHODS FOR IMPROVING THE RESULTS FROM A DIRECT EXPERIMENTAL APPROACH ARE SUGGESTED.(Author/publisher).