Publication: Valuation of Time Savings
Date
2005-01
ISSN
Published
2005-01
Author(s)
Mackie, Peter
Nellthorp, John
Laird, James
Abstract
This note has been drawn from a number
of texts including "The Value of Time In Economic
Evaluation of Transport Projects" (Gwilliam, 1997),
"Values of Travel Time Savings in the UK - Summary and
Conclusions" (Mackie et al, 2003), and "The Value
of Time in least Developed Countries" (IT Transport,
2002). The conceptual basis for valuing time is discussed in
Section 1. Sections 2 and 3 discuss the theoretical basis
for valuing work time savings and non-work time savings
respectively, while Sections 4 and 5 discuss the value of
time savings to buses, and to freight. The treatment of
small time savings are presented in Sections 6 and 7.
Section 8 sets out the manner that disparities between
regions for values of time should be treated within the cost
benefit analysis, and the use of standard values of time.
Section 9 summarizes the practical methodologies that should
be used for the estimation of travel time savings, while
Section 10 summarizes the key recommendations of this note.
Citation
“Mackie, Peter; Nellthorp, John; Laird, James. 2005. Valuation of Time Savings. Transport Notes Series; No. TRN 15. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/7dc684c8-0af7-5f3e-90d5-9c6636ca37df License: CC BY 3.0 IGO.”