The daily commute to a job is a cost of working. Workers may share stories about the extent or rigors of their commute, or they may enjoy the time with reading, music, or drive-time radio personalities. For any trip, many factors contribute to a travelers choice of mode and route. Travel costs are estimated as value of time (VOT) and value of travel time savings (VTTS), estimates that seek to quantify both the tangible and intangible aspects of travel. Research into the proper methodologies and uses of data continue to evolve, but despite these uncertainties, VOT and VTTS are measures critical for transportation planners when developing cost-benefit analyses of projects, congestion pricing policies, or information about the likelihood of diverting travelers from single-occupant vehicles to alternative modes.
Improving Value of Travel Time Savings Estimation for More Effective Transportation Project Evaluation, Summary
2011
1 pages
Report
No indication
English
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