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Valuation of Travel Time Savings

In: A Handbook of Transport Economics

Author

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  • David A. Hensher

Abstract

Bringing together insights and perspectives from close to 70 of the world’s leading experts in the field, this timely Handbook provides an up-to-date guide to the most recent and state-of-the-art advances in transport economics. The comprehensive coverage includes topics such as the relationship between transport and the spatial economy, recent advances in travel demand analysis, the external costs of transport, investment appraisal, pricing, equity issues, competition and regulation, the role of public–private partnerships and the development of policy in local bus services, rail, air and maritime transport.

Suggested Citation

  • David A. Hensher, 2011. "Valuation of Travel Time Savings," Chapters,in: A Handbook of Transport Economics, chapter 7 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:12679_7
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    File URL: https://www.elgaronline.com/view/9781847202031.00014.xml
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    References listed on IDEAS

    as
    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 438-451, June.
    2. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, April.
    3. Leon N. Moses & Harold F. Williamson & Jr., 1963. "Value of Time, Choice of Mode, and the Subsidy Issue in Urban Transportation," Journal of Political Economy, University of Chicago Press, vol. 71, pages 247-247.
    4. Bhat, Chandra R., 1995. "A heteroscedastic extreme value model of intercity travel mode choice," Transportation Research Part B: Methodological, Elsevier, vol. 29(6), pages 471-483, December.
    5. Hensher, David A. & Puckett, Sean M. & Rose, John M., 2007. "Agency decision making in freight distribution chains: Establishing a parsimonious empirical framework from alternative behavioural structures," Transportation Research Part B: Methodological, Elsevier, vol. 41(9), pages 924-949, November.
    6. de Donnea, F. X., 1972. "Consumer behaviour, transport mode choice and value of time: Some micro-economic models," Regional and Urban Economics, Elsevier, vol. 1(4), pages 355-382, February.
    7. DeSerpa, A C, 1971. "A Theory of the Economics of Time," Economic Journal, Royal Economic Society, vol. 81(324), pages 828-846, December.
    8. Bates, John J, 1987. "Measuring Travel Time Values with a Discrete Choice Model: A Note," Economic Journal, Royal Economic Society, vol. 97(386), pages 493-498, June.
    9. David Hensher, 2006. "The Signs of the Times: Imposing a Globally Signed Condition on Willingness to Pay Distributions," Transportation, Springer, vol. 33(3), pages 205-222, May.
    10. 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.
    11. DeSerpa, Allan C., 1973. "Microeconomic theory and the valuation of travel time: Some clarification," Regional and Urban Economics, Elsevier, vol. 2(4), pages 401-410.
    12. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mackie, Peter & Worsley, Tom & Eliasson, Jonas, 2014. "Transport appraisal revisited," Research in Transportation Economics, Elsevier, vol. 47(C), pages 3-18.
    2. repec:eee:transa:v:101:y:2017:i:c:p:111-132 is not listed on IDEAS
    3. Small, Kenneth A., 2012. "Valuation of travel time," Economics of Transportation, Elsevier, vol. 1(1), pages 2-14.
    4. repec:eee:retrec:v:63:y:2017:i:c:p:5-12 is not listed on IDEAS
    5. Lindsey, Robin, 2012. "Road pricing and investment," Economics of Transportation, Elsevier, vol. 1(1), pages 49-63.
    6. Wardman, Mark & Batley, Richard & Laird, James & Mackie, Peter & Bates, John, 2015. "How should business travel time savings be valued?," Economics of Transportation, Elsevier, vol. 4(4), pages 200-214.

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