BEHAVIOURAL AND RESOURCE VALUES OF TRAVEL TIME SAVINGS: A BICENTENNIAL UPDATE

Abstract

The value of travel time savings is a controversial subject because of its importance in the evaluation of transport investments and because of the difficulty in measuring it. This paper reviews and updates our knowledge on values of travel time savings. Drawing on recent empirical studies, we synthesise our contribution and propose a set of time savings values for use in future urban and non urban project evaluation. With user benefits associated with time savings often representing as much as 70 per cent of such benefits, the results are of immense practical value (A).