Samenvatting
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.