Economics, Econometrics and Finance
5 years ago

Urban car drivers undervalue travel time savings, impacting transportation decisions.

The valuation of non-commuting travel time savings for urban car drivers
David A. Hensher

Paper Summary

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The study looked at how much time saved during car trips in cities is worth to drivers. They compared different models to see which one gives a more accurate estimate. By using data from New Zealand, they found that the popular model tends to underestimate the value of time saved. This means that drivers actually value saved time more than previously thought.