Meta-Analysis and the Value of Travel Time Savings: A Transatlantic Perspective in Passenger Transport
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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- Nijkamp, Peter & Pepping, Gerard, 1997. "A meta-approach to investigate the variance in transport cost elasticities: a cross-national European comparison," Serie Research Memoranda 0071, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
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- 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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