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Experiences from the Swedish Value of Time study

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Author Info

  • Börjesson, Maria

    ()
    (KTH)

  • Eliasson, Jonas

    (KTH)

Abstract

We provide a synthesis of results and insights from the Swedish Value of Time study, with focus on what is relevant for transport appraisal and understanding travel behaviour. We summarize recent econometric advances, and show how these enable a better understanding and identification of the value of time distribution. The influence of the sign and size of changes is estimated and discussed, including the problems of loss aversion and the value of small time savings. Further, we show how the value of time depends on trip and traveller characteristics, discuss in what dimensions the value of time should be differentiated in appraisal, and provide recommended values for use in applied transport appraisal.

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File URL: http://www.transportportal.se/SWoPEc/CTS2012-8.pdf
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Bibliographic Info

Paper provided by CTS - Centre for Transport Studies Stockholm (KTH and VTI) in its series Working papers in Transport Economics with number 2012:8.

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Length: 23 pages
Date of creation: 13 Mar 2012
Date of revision:
Handle: RePEc:hhs:ctswps:2012_008

Contact details of provider:
Postal: Centrum för Transportstudier (CTS), Teknikringen 10, 100 44 Stockholm, Sweden
Web page: http://www.cts.kth.se/

Related research

Keywords: Value of time; Appraisal; Cost-benefit analysis; Travel behaviour; Weighted cost-benefit analysis;

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References

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Citations

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Cited by:
  1. Börjesson, Maria & Eliasson, Jonas, 2011. "The value of time and external benefits in bicycle appraisal," Working papers in Transport Economics, CTS - Centre for Transport Studies Stockholm (KTH and VTI) 2011:22, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
  2. Anderstig, Christer & Berglund, Svante & Eliasson, Jonas & Andersson, Matts & Pyddoke, Roger, 2012. "Congestion charges and labour market imperfections: “Wider economic benefits” or “losses”?," Working papers in Transport Economics, CTS - Centre for Transport Studies Stockholm (KTH and VTI) 2012:4, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
  3. Börjesson, Maria & Eliasson, Jonas & Hamilton, Carl, 2014. "Why experience changes attitudes to congestion pricing: the case of Gothenburg," Working papers in Transport Economics, CTS - Centre for Transport Studies Stockholm (KTH and VTI) 2014:14, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
  4. Maria Börjesson, 2014. "Inter-temporal variation in the travel time and travel cost parameters of transport models," Transportation, Springer, vol. 41(2), pages 377-396, March.
  5. Börjesson, Maria, 2012. "Inter-temporal variation in the travel time and travel cost parameters of transport models," Working papers in Transport Economics, CTS - Centre for Transport Studies Stockholm (KTH and VTI) 2012:16, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
  6. Vij, Akshay & Walker, Joan L., 2014. "Preference endogeneity in discrete choice models," Transportation Research Part B: Methodological, Elsevier, vol. 64(C), pages 90-105.
  7. Börjesson, Maria, 2012. "Forecasting demand for high speed rail," Working papers in Transport Economics, CTS - Centre for Transport Studies Stockholm (KTH and VTI) 2012:12, CTS - Centre for Transport Studies Stockholm (KTH and VTI).

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