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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- 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.
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- Herbert Mohring, 1961. "Land Values and the Measurement of Highway Benefits," Journal of Political Economy, University of Chicago Press, vol. 69, pages 236.
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- 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.
- 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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