The objective of this study consisted of creating a suitable theoretical framework for analysis of the value of time, and testing an empirical procedure on a trial basis to determine the value of time in goods traffic.
This should allow determining a valuation basis which can be used within the framework of cost-benefit analyses regarding infrastructure measures.
Project goals: Creation of a basis up to date for analysis of the benefits of investments in roads.
On the basis of the economic cost savings approach, an attempt has been made to measure 'the value of time in goods traffic' by using those cost savings which are brought about by improved infrastructures during a constant level of performance in transport companies.
Hypothetical measures have been presented to choose respondents and the effects of these measures on the time-related transport quality features estimated.
According to the assessment of the surveyed companies, the infrastructure measures have a favourable effect on company production conditions.
In particular, it is expected that this level of transport performance can be achieved with less working hours, less fuel consumption, less vehicles, less mileage, and with greater punctuality.
Within the framework of such interviews it proved difficult to obtain usable assessments regarding the estimated cost effects of stipulated infrastructure measures. It is assumed that the fuel costs, wear and tear costs and labour costs will fall.
In contrast, the companies believe that such measures do not exert any influence on the remaining types of costs. Quantitative comments on the extent of the cost change was possible only with regard to fuel costs. On average the fuel costs fell by approx. 10 %, resp. by some 5 % per journey for each minute saved during traffic congestion.