Last update: 22/03/2007 16:53:24
The project will provide relevant advice on the broad aim of improving and updating the treatment of the value of time within transport mofdelling and appraisal.
A previous study, by Hague Consulting Group, produced values for work and non-work values of time. This study follows on from that study.
The main recommendations concern revisions to non-working travel time savings. Many of the changes concern improvements in the methodological approach. One important issue investigated is the extent to which the value of time should be segmented by income or journey length rather than a single value of time known as 'equity value'.
The project also makes various recommendations on values of non-work travel time savings. These include values by income band, values or commuting and other purposes, values for out of vehicle time and changes to responsiveness over time.
University of Leeds
Institute for Transport Studies, 38 University Road, Leeds, LS2 9JT
+44 (0)113 343 5325
Cost to the Department: £109,000.00
Actual start date: 03 October 2000
Actual completion date: 21 November 2002
Value of Travel Time Savings in the UK
Author: ITS Leeds and John Bates Services
Publication date: 31/01/2003
Source: Summary available on the DfT Website
More information: http://www.dft.gov.uk/pgr/economics/rdg/valueoftraveltimesavingsinth3130
Departmental Assessment Status: completed prior to the Department's publication scheme