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In brief: Issue 600 6 Jul 2012

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Economics / Appraisal / BCR, All of UK

Recession cuts value of time

The recession may have lowered people’s perception of the value of time, according to the DfT. “The recent recession may have influenced people’s perception of the value of time, which, in turn, may have influenced how much time people spend travelling and which mode they take,” says the DfT’s new report Annual road traffic statistics 2011. “For example, more people may be willing to sacrifice the extra time it takes to cycle to their destination following a...

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