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On the income elasticity of the value of travel time

机译：关于收入弹性的旅行时间价值

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Transport infrastructure is long-term and in appraisal it is necessary to value travel time savings for future years. This requires knowing how the value of time (VTT) will develop over time as incomes grow. This paper investigates if the cross-sectional income elasticity of the VTT is equal to inter-temporal income elasticity. The study is based on two identical stated choice experiments conducted with a 13 year interval. Results indicate that the relationship between income and the VTT in the cross-section has remained unchanged over time. As a consequence, the inter-temporal income elasticity of the VTT can be predicted based on cross-sectional income elasticity. However, the income elasticity of the VTT is not a constant but increases with income. For this reason, the average income elasticity of the VTT in the cross-sections has increased between the two survey years and can be expected to increase further over time.
机译：运输基础设施是长期的，在评估中，有必要评估未来几年节省的旅行时间。这需要了解时间价值（VTT）将随着收入的增长而发展。本文研究了VTT的横截面收入弹性是否等于跨期收入弹性。该研究基于以13年为间隔进行的两个相同的陈述选择实验。结果表明，横截面中收入和VTT之间的关系一直没有变化。结果，可以基于横截面收入弹性来预测VTT的跨时间收入弹性。但是，VTT的收入弹性不是恒定的，而是随收入增加的。因此，在两个调查年度之间，VTT的横截面平均收入弹性有所增加，并且可以预期随着时间的推移会进一步增加。

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