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Time savings in forecasting
• Essential to use perceived (i.e. behavioural) values to
ensure accurate demand forecasting
• Values of time savings need to vary by:
– Travel cost/distance and income
– Size and sign of time saving may also be important
• Most important for transport pricing:
– Toll roads, public transport, road pricing, etc
• BUT, pragmatism may be necessary:
– Cannot collect data on all variables and scenarios