Zero Value of Time: Roundtable Meeting
In current transport appraisal practices, travel time is considered as wasted time, representing a disutility. Based on the view that unproductive travel time saved can be converted into productive use, business travel time is traditionally valued at labour costs. There are, however, increasing evidences that travel time is not always wasted. People often report positive utilities due to activities that can be conducted whilst travelling, for example, checking work emails or carrying out leisure activities such as reading. The scope and type of non-travel activities are likely to increase with modern technologies, including the use of self-driving vehicles in the future. The Roundtable will consider the utility and disutility of time spent travelling, whether and how they should be measured and captured in the valuation of travel time. The discussion will cover theory, evidence and application issues, including modelling and forecasting, appraisal methods and transport and land use policy implications.
ITF Secretary-General Young Tae Kim will open the meeting.