Statistical distribution of time values and underestimation of the benefits of speed

Claude Abraham, Alain Bonnafous and Jean-Baptiste Ray

Transport Policy, 2021, vol. 113, issue C, 27-36

Abstract: •Users' time savings are important in calculating net present value of a transport project.•The monetary estimates of time savings depend on the value of the time used.•The official methods of calculation most often use average values.•Using the statistical distribution of the values of time substantially modifies the result.•The higher the cost of transportation, the greater the underestimation of user surpluses.

Date: 2021
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DOI: 10.1016/j.tranpol.2020.08.020

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