2001
DOI: 10.1016/s1366-5545(00)00013-2
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The value of travel time savings in evaluation

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Cited by 270 publications
(160 citation statements)
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“…Thus, the displays caused a decreased travel time of 2.88 percent (1.3minutes/45minutes). Each 1 percent in reduced travel time causes a 0.8 percent increase in ridership if we use an average travel time elasticity of -0.8 which is recommended by Mackie et al (2003). That means that in our case, a widespread real-time information system could theoretically cause an increase in ridership of about 2.3 percent.…”
Section: Discussionmentioning
confidence: 86%
“…Thus, the displays caused a decreased travel time of 2.88 percent (1.3minutes/45minutes). Each 1 percent in reduced travel time causes a 0.8 percent increase in ridership if we use an average travel time elasticity of -0.8 which is recommended by Mackie et al (2003). That means that in our case, a widespread real-time information system could theoretically cause an increase in ridership of about 2.3 percent.…”
Section: Discussionmentioning
confidence: 86%
“…Further, they are only relevant if decision makers consider equalization as the guiding principle and seek to reduce inequalities [9] (pp.968-969). In practice, distributional weights are rarely used [17,18]. There are also advantages to a cost-benefit approach, as identifying the most cost-efficient option can free resources to address other important problems.…”
Section: Characterizing Distributive Concernsmentioning
confidence: 99%
“…The standard way travel time is valued in transport appraisal, through valuation of travel time savings (essentially, travel time is treated as wasted time), provides the overall context for this research (Wardman 1998;Mackie, Jara-Díaz et al 2001;Wardman 2001;Hensher 2001a;Hensher 2001b;Mokhtarian 2005;Metz 2008). The study reported here does not engage with the monetary valuation of travel time; it is a social and not an economic study.…”
Section: Introductionmentioning
confidence: 99%