The Pecuniary Value of Commuting Time
If commuting time is changed significantly by injury or wrongful termination, the change in the cost of commuting might be an element of damages, and the forensic economist might be called on to evaluate the change. Transportation economists have studied commuting behavior for more than half a century. They have developed models of utility maximization in choosing among modes of travel and concluded that, roughly, commuters are willing to trade time for money as though their time were worth half their wage; but there are variations. This paper summarizes findings from transportation economics for possible application in forensic economics.
Volume (Year): 36 (2010 Summer)
Issue (Month): 3 ()
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