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Theory of non-work VTTS VTTS = Marginal utility of transferring time from travel to leisure Marginal utility of income • Theory cannot be used to support any particular value, as VTTS will be influenced by: – Relative (dis)utilities of travel and leisure – How much time is spare, the manner in which the time constraint binds, and the consequences of being late – Whether travel time constrains access to activities/locations – The marginal utility of income • Therefore require empirical evidence, usually a mixture of: – Revealed Preference (RP); and – Stated Preference (SP)
Non-work VTTS How it varies - empirics • Non-work VTTS found to vary by/over (all other things being equal): – Journeys • Journey purpose • Mode • Conditions (overcrowded, free-flow) • Group size • Journey length – People • Income • How tightly time constraints bind (gender, culture)
Page 1 and 2: Institute for Transport Studies FAC
Page 3 and 4: Structure • Part 1: Introduction
Page 5 and 6: Context In practical scheme apprais
Page 7 and 8: Part 2: Defining travel time saving
Page 9 and 10: What are travel time savings The va
Page 11 and 12: Part 3: Business and freight travel
Page 13: Part 4: Non-work travel time saving
Page 17 and 18: Time savings in forecasting • Ess
Page 19 and 20: Part 5b: Time savings in an apprais
Page 21 and 22: The effect of income - national app
Page 23 and 24: Time savings and economic impact
Page 25 and 26: Small time savings • < 3 mins or
Page 27 and 28: Business travel: The productive use
Page 29 and 30: Summary • Can’t save time only

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