Value of Travel Time Savings — Estimates on Norwegian Cyclists
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Value of Travel Time Savings (VTTS) is probably the most important benefit in transportation investment projects. Nevertheless, knowledge about VTTS for cyclists is sparse. In a time of change to a more climate-friendly, urban transport system more knowledge of the topic is highly demanded. By utilizing a mixed logit model, this study estimate that the average VTTS for a Norwegian cyclist is higher than previously measured. Applying the average VTTS-value in national cost benefit analysis would make time-saving infrastructure and facilities for cyclists more profitable. By parameterizing the coefficients for time and cost, the study also find that income and variables related to reasons to cycle have large impacts on individual VTTS for cyclists.