The value of travel speed

van Goeverden, C.D.

The value of travel speed

Title

The value of travel speed

Author

van Goeverden, C.D. (TU Delft Transport and Planning)

Contributor

van Wee, Bert (editor)

Department

Transport and Planning

Date

2021

Abstract

Travel speed is an intrinsic feature of transport, and enlarging the speed is considered as beneficial. The benefit of a speed increase is generally assessed as the value of the saved travel time. However, this approach conflicts with the observation that time spent on travelling is rather constant and might not be affected by speed changes. The paper aims to define the benefits of a speed increase and addresses two research questions. First, how will a speed increase in person transport work out, which factors are affected? Second, is the value of time a good proxy for the value of speed? Based on studies on time spending (among others) we argue that human wealth is the main affected factor by speed changes, rather than time or access. Then the value of time is not a good proxy for the value of speed, because the benefits of a wealth increase are negatively correlated with prosperity while the calculated benefits of saved travel time prove to be positively correlated.

Subject

travel speed
travel time
access
human wealth
assessment
happiness

To reference this document use:

http://resolver.tudelft.nl/uuid:0d201dd8-4c0c-4e47-85ea-4ff7bcfc216e

Embargo date

2022-03-01

Source

Proceedings of the BIVEC-GIBET Transport Research Days 2021: The role of transport in urban, energy and climate transitions

Event

Transport Research Days 2021, 2021-05-27 → 2021-05-28, Virtual event

Part of collection

Institutional Repository