The value of automobile travel time: implications for congestion policy

• 成果类型: Article
• 署名作者: Calfee, J; Winston, C
• 署名单位: Brookings Institution; American Enterprise Institute for Public Policy Research
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(97)00095-9
• 发表日期: 1998
• 页码: 83-102
• 关键词: congestion; value of time; tolls; stated preference

摘要

Public policy has remained stoutly resistant to the economic profession's call to use congestion tolls to minimize the social costs from automobile congestion. This paper explores this issue by using stated preference models to estimate the value that commuters are willing to pay to save travel time. We find that this value is low and surprisingly insensitive to travel conditions and how toll revenues are used. It appears that even high-income commuters, having adjusted to congestion through their modal, residential, workplace, and departure time choices, simply do not value travel time savings enough to benefit substantially from tolls. (C) 1998 Elsevier Science S.A.