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Meta-Analysis and the Value of Travel Time Savings: A Transatlantic Perspective in Passenger Transport

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Author Info

  • Luca Zamparini

    ()

  • Aura Reggiani

    ()

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    Abstract

    The value of travel time savings (VTTS) is the monetary value attached to the possibility to save a determined amount of travel time. VTTS is also the most important benefit category aimed at justifying investments in transport infrastructures by public administrations. Hence VTTS played a significant role in various economic studies, both analytical and empirical. The present paper introduces a brief history of meta-analysis and describes the microeconomic formula used in VTTS estimations. It also provides a meta-analytical estimation of a selection of empirical studies, emphasizing the similarities and the differences between European and North-American observations. Copyright Springer Science+Business Media, LLC 2007

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    File URL: http://hdl.handle.net/10.1007/s11067-007-9028-5
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    Bibliographic Info

    Article provided by Springer in its journal Networks and Spatial Economics.

    Volume (Year): 7 (2007)
    Issue (Month): 4 (December)
    Pages: 377-396

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    Handle: RePEc:kap:netspa:v:7:y:2007:i:4:p:377-396

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    Web page: http://www.springerlink.com/link.asp?id=106607

    Related research

    Keywords: Meta-analysis; Value of travel time savings; Passenger transport;

    References

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    1. Truong, Truong P & Hensher, David A, 1985. "Measurement of Travel Time Values and Opportunity Cost from a Discrete-Choice Model," Economic Journal, Royal Economic Society, vol. 95(378), pages 438-51, June.
    2. Herbert Mohring, 1961. "Land Values and the Measurement of Highway Benefits," Journal of Political Economy, University of Chicago Press, vol. 69, pages 236.
    3. Dalvi, M Q & Lee, N, 1971. "Variations in the Value of Travel Time: Further Analysis," The Manchester School of Economic & Social Studies, University of Manchester, vol. 39(3), pages 187-204, September.
    4. Deacon, Robert T & Sonstelie, Jon, 1985. "Rationing by Waiting and the Value of Time: Results from a Natural Experiment," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 627-47, August.
    5. Evans, Alan W, 1972. "On the Theory of the Valuation and Allocation of Time," Scottish Journal of Political Economy, Scottish Economic Society, vol. 19(1), pages 1-17, February.
    6. Bates, John J, 1987. "Measuring Travel Time Values with a Discrete Choice Model: A Note," Economic Journal, Royal Economic Society, vol. 97(386), pages 493-98, June.
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    Citations

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    Cited by:
    1. Carrion, Carlos & Levinson, David, 2012. "Value of travel time reliability: A review of current evidence," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(4), pages 720-741.
    2. Dimitropoulos, Alexandros & Rietveld, Piet & van Ommeren, Jos N., 2013. "Consumer valuation of changes in driving range: A meta-analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 55(C), pages 27-45.
    3. Thor-Erik Hanssen, 2012. "The influence of interview location on the value of travel time savings," Transportation, Springer, vol. 39(6), pages 1133-1145, November.
    4. Alexandros Dimitropoulos & Piet Rietveld & Jos N. van Ommeren, 2011. "Consumer Valuation of Driving Range: A Meta-Analysis," Tinbergen Institute Discussion Papers 11-133/3, Tinbergen Institute.
    5. Stefanie Peer & Jasper Knockaert & Paul Koster & Erik Verhoef, 2013. "Overreporting vs. Overreacting: Commuters' Perceptions of Travel Times," Tinbergen Institute Discussion Papers 13-123/VIII, Tinbergen Institute.

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