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.
The objective of this study consists of creating of 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 allows to determine a valuation basis which can be used within the framework of cost-benefit analyses regarding infrastructure measures. In other words, the main aim of the project is to create an up-to-date basis for analysis of the benefits of investments in roads.
Hypothetical measures have been presented to choosen 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 appox. 10 %, resp. by some 5 % per journey for each minute saved during traffic congestion.
Jenni + Gottardi AG, Beratende Ingenieure: Der Wert der Zeit im Güterverkehr: Pilotstudie auf Basis des Kostenersparnisansatzes. Eidgenössisches Departement für Umwelt, Verkehr, Energie und Kommunikation, Bundesamt für Strassen – Vol. 456
Eidgenössisches Verkehrs- und Energiewirtschaftsdepartement - Bundesamt für Strassenbau – Vol. 456. Bundesamt für Strassen, 2000