Die ökonomische Bewertung kleiner Reisezeiteinsparungen / The Economic Valuation of Small Travel Time Savings

Obermeyer Andy (), Wieland Bernhard () and Evangelinos Christos ()
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Obermeyer Andy: Verkehrswirtschaft und internationale Verkehrspolitik, Institut für Wirtschaft und Verkehr, Fakultät Verkehrswissenschaften „Friedrich List“, Technische Universität Dresden, Chemnitzer Straße 48, 01187 Dresden, Germany
Wieland Bernhard: Verkehrswirtschaft und internationale Verkehrspolitik, Institut für Wirtschaft und Verkehr, Fakultät Verkehrswissenschaften „Friedrich List“, Technische Universität Dresden, Chemnitzer Straße 48, 01187 Dresden, Germany
Evangelinos Christos: Verkehrswirtschaft und internationale Verkehrspolitik, Institut für Wirtschaft und Verkehr, Fakultät Verkehrswissenschaften „Friedrich List“, Technische Universität Dresden, Chemnitzer Straße 48, 01187 Dresden, Germany

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2014, vol. 234, issue 1, 44-69

Abstract: Travel time savings are usually the most important utility component in transport infrastructure project evaluation. One of the controversial issues in research on the valuation of travel time savings is the assessment of small time savings. This article goes into this matter with specific focus on indifference thresholds in discrete choice models. Our research shows, if such thresholds exist, valuation of time savings should be differentiated according to the size of the time saving. In particular, small time savings should be valued at a lower rate than large ones. Consequences and criticism regarding this procedure are discussed. We find similarities to the currently applied evaluation methodology in the German Federal Infrastructure Plan.

Keywords: Travel time savings; indifference threshold; compensatory variation; discrete choice; cost-benefit analysis; transport infrastructure plan (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:234:y:2014:i:1:p:44-69

DOI: 10.1515/jbnst-2014-0105

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