Time and passenger transport

Yves Crozet ()
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Yves Crozet: LET - Laboratoire d'économie des transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique

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Abstract: Time is money! Applying this common saying to their own sphere of activity, economists, following the example of Gary Becker, have for the past twenty or thirty years incorporated the issue of time into their analytical reasoning. A scarce resource, time is a topic of study that lends itself particularly well to demonstrations based on the principles of optimisation. Allocating time to the individual activities available when we decide upon our programmes of activity leads to varying levels of utility which rational economic man can choose between. Transport economists, following the work of C. Abraham and M.E. Beesley, have rapidly fallen into step with their generalist colleagues. They have done this by treating travel time as a component of an overall trip cost, termed the generalised cost.

Keywords: Travel time; Value of time; travel cost; Zahavi's hypothesis; mobility; Temps de transport; valeur du temps; hypothèse de Zahavi; coût du transport; mobilité (search for similar items in EconPapers)
Date: 2005
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00194583
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Published in ECMT (Ed.) = CEMT. Round Table 127 = Table ronde 127 - Time and Transport = Le temps et les transports, 2005, Paris, France. pp. 25-65 (English language) - pp. 33-40 (version française)

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