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Title:

A Critical Appraisal of Use of Simple Time-Money Trade-Offs for Appraisal Value of Time Measures

Accession Number:

01629523

Record Type:

Component

Abstract:

Stated choice surveys have established themselves as the preferred approach for value of time elicitation with the help of choice models. However, major differences exist in the approaches used across regions. While studies in Europe (especially Northern Europe) continue to rely extensively on very simple time-money trade-offs, those in Australia and South America especially follow the notion that more complex and hence realistic setups are preferable. The present paper aims to provide a critical appraisal of the use of simple time-money trade-offs, drawing from experience in recent European studies. The authors highlight a number of issues, in terms of differences in valuations across formats as well as a lack of clarity on how respondents actually interpret travel time in simple time-money trade-offs.

Supplemental Notes:

This paper was sponsored by TRB committee ADB10 Standing Committee on Traveler Behavior and Values.

Monograph Accession #:

01618707

Report/Paper Numbers:

17-05634

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Hess, Stephane
Daly, Andrew
Börjesson, Maria

Pagination:

16p

Publication Date:

2017

Conference:

Transportation Research Board 96th Annual Meeting

Location: Washington DC, United States
Date: 2017-1-8 to 2017-1-12
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

Figures; References; Tables

Geographic Terms:

Europe

Subject Areas:

Planning and Forecasting; Transportation (General)

Source Data:

Transportation Research Board Annual Meeting 2017 Paper #17-05634

Files:

TRIS, TRB, ATRI

Created Date:

Dec 8 2016 12:15PM