Value of time for passenger traffic (SVI 2001/534)
Overview
Background & policy context:
Transport policy changes and investments in transport infrastructure often change travel times considerably, which in turn affect the welfare of the affected travellers.
Social cost-benefit analysis is used to evaluate such change on the basis of a-priori-derived values of time savings (VOT). Up-to-date estimates of the VOTs are missing for Switzerland.
Objectives:
The aim of the study is the derivation of methodologically sound values of time savings (VOTs).
The derived values will differentiate between a variety of external factors relating to travel conditions, to travel purposes, travel distances, modes of travel and socio-demographic characteristics (income, age, etc.).
Methodology:
The state-of-the-art techniques to estimate values of time savings (VOTs) are based on random-utility modelling and stated-preference survey techniques.
Suitable econometric models will be estimated to identify the trade-offs between time and cost controlling for further quality variables.
The willingness-to-pay will be differentiated by person group, travel conditions and mode of travel.
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