Significant variations in how countries value travel time savings in project appraisal have been highlighted in an international review of appraisal practice for the DfT. The study reveals that Germany uses lower values for small time savings and the Swedes give higher values to time savings on longer-distance trips.
The study was led by two economists at the Institute for Transport Studies, University of Leeds: Professor Peter Mackie, whose research career has informed the DfT’s...
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