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THE VALUE OF TRAVEL TIME AND BENEFITS OF TIME SAVINGS

А. Л. Казаков, S Aleksa, Timothy D. Miller

Abstract

The purpose of this paper is to report the estimate values of travel time (VTT) specific to Ontario's travel experiences and planning needs. A questionnaire was designed to examine travel time trade-offs and travel decisions of a sample on Ontario respondents. The questions were designed to reflect well known travel situations and traffic problems such as commuting and congestion. Respondents were asked to trade-off their travel time between alternative travel and non-travel uses. Ratios of travel time trade-offs were derived and applied to average wage rates to obtain values of commuting and leisure travel time. The value of travel time for commuting and leisure travel are presented and future work on VTT is discussed. For the covering abstract of this conference, see IRRD number 854079. (A)

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Key concepts: Travel time, Value of time, Transport engineering, Travel behavior, Value (mathematics), Journey to work, Work (physics), Sample (material)