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This report focuses on convenience in public transport and its importance to the user experience. It reviews operational definitions of convenience, evidence for the willingness of users to pay for convenience and the use of indicators to assess and improve the convenience of public transport.
The fourth edition of Cost-Benefit Analysis is an authoritative, market-leading textbook that provides a practical introduction to cost-benefit analysis through problem solving. The text uses a consistent application of a nine-step framework for interpreting a cost-benefit analysis. This edition has been fully revised, updated and re-organized to provide the material more effectively. It presents application over abstract theory and clear discussion over mathematics to appeal to a larger, more diverse audience.
The value of travel time savings (VTTS) is a major component of almost all economic evaluation of transport infrastructure investments. Its importance for transport project evaluation has been recognized explicitly at least since 1950 and numerous empirical studies have been conducted since the early 1960s, i.e., since the first application of social benefit cost analysis (SBCA) to evaluating public investments in transport infrastructure. Typically, the value of time savings constitutes the majority of economic benefits from transport projects. This paper reports on a survey of empirical studies of VTTS, including drawing on the findings of other recent reviews of this literature. Over 35 empirical studies were reviewed, and these were supplemented from reviews by other authors. The present paper reports only on the values for non-work travel time, primarily the value for commuting time. There are many issues in valuing travel time savings. This paper limits comment to one of the on-going issues in valuing travel time : the links between VTTS and levels of income. For the covering abstract of this conference, see IRRD number 853879.
This Round Table revisits the extended literature on the valuation of passenger time and discusses the under-researched topic of the value of time in freight transport.