Implications of Recent Research into Values-of-time for the Classical Transport Model, Forecast and Appraisal



Implications of Recent Research into Values-of-time for the Classical Transport Model, Forecast and Appraisal

Authors

GUNN H F, Hague Consulting Group, The Netherlands and WORSLEY T E, Department of the Environment, Transport and the Regions, UK

Description

For many years, the concept of Ôgeneralised costÕ has played a central part in transportation planning in the U.K., and elsewhere. An orthodoxy has emerged in terms of the treatment of time as a component of the overall disutility of travel, in terms of h

Abstract

For many years, the concept of Ôgeneralised costÕ has played a central part in transportation planning in the U.K., and elsewhere. An orthodoxy has emerged in terms of the treatment of time as a component of the overall disutility of travel, in terms of how it should be valued in different contexts, how its values vary and how these values are expected to change over time.

This paper is intended to contribute to the current ÔrevisitationÕ to the basic issues about the influence and importance of travel time differences in shaping travel behaviour, and the monetary values that should be placed on such changes within an economic appraisal. In some part, the present concerns have been triggered by the results emerging from Ôvalue-of-timeÕ experiments in several countries, amongst which the U.K. is one.

The authors hope to raise questions for debate, in addition to drawing attention to the range of VOT experiments and results, which are of interest in this context.

Publisher

Association for European Transport