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Valuing travel time savings: A case of short-term or long term choices?

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  • Beck, Matthew J.
  • Hess, Stephane
  • Cabral, Manuel Ojeda
  • Dubernet, Ilka

Abstract

The valuation of travel time is of crucial importance in many transport decisions. Most studies make use of data framed around short-term decisions such as route choice. However, people may have a greater ability to trade time and money in a longer term setting, such as when considering changes in residential or employment locations. We study the value of travel time in both the short and long-term, finding differences in the valuations. Given the importance of these valuations for policy making, our results call for more research into how time-cost trade-offs should be represented with stated preference.

Suggested Citation

  • Beck, Matthew J. & Hess, Stephane & Cabral, Manuel Ojeda & Dubernet, Ilka, 2017. "Valuing travel time savings: A case of short-term or long term choices?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 100(C), pages 133-143.
    • Handle: RePEc:eee:transe:v:100:y:2017:i:c:p:133-143
    DOI: 10.1016/j.tre.2017.02.001
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