The value of time for commuting motorists as a function of their income level and amount of time saved.

Author(s)
Thomas, T.C. Thompson
Year
Abstract

Value of travel time saved by commuters has been determined as a function of their level of income and amount of time saved. An difference curve for alternative trip costs and saved is established indirectly from a choice between two routes, one being atoll route. A probability function is derived, and the curve for the variable value of time saved against amount of time saved shows an S-shape, at a given income level. The marginal value of time appears to increase as the time saved goes up to approximately 15 minutes, there-after decreases. The result of the investigation is a large drop in the value of time calculation at a constant level of value for traffic analyses, compared with the calculation at a constant level of value for time in earlier studies.

Request publication

1 + 1 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Publication

Library number
A 7198 + fo (In: A 7197 S) IRRD 52780
Source

In: Highway Research Record HRR, No. 314, 1970, p. 1-19

Our collection

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