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Economics and Financing

Cover of Small Travel Time Savings: Treatment in Project Evaluations
Small Travel Time Savings: Treatment in Project Evaluations
  • Publication no: AP-R392-11
  • ISBN: 978-1-921709-97-5
  • Published: 23 September 2011

The purpose of this report is to identify, review and compile existing literature on small travel time savings, and the current practice of considering the notion of small travel time savings in project evaluation. The review discusses both work and non-work travel time savings. In Australia and New Zealand, current practice does not distinguish between small and substantial travel time savings in project evaluation.

  • 1. INTRODUCTION
  • 2. DEFINING SMALL TRAVEL TIME SAVINGS
    • 2.1. Absolute Definition of Small Travel Time Savings
    • 2.2. Proportional Definition of Small Travel Time Savings
    • 2.3. Summary
  • 3. APPROACHES TO VALUATION OF SMALL TRAVEL TIME SAVINGS
    • 3.1. Constant or Non-zero Unit Value Approach
      • 3.1.1. The Distributional Argument
      • 3.1.2. The Decompositional Argument
    • 3.2. Lower Unit Value Approach or Zero Value Approach
    • 3.3. Summary
  • 4. FACTORS TO CONSIDER IN VALUING SMALL TRAVEL TIME SAVINGS
    • 4.1. An Objective vs. a Subjective Approach
    • 4.2. Nature of Journey Purpose
    • 4.3. Time Horizon
    • 4.4. Consistency
    • 4.5. Mode of Travel
  • 5. CONCLUDING REMARKS
    • 5.1. Recommendations
  • REFERENCES
  • BIBLIOGRAPHY
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