PUBLIC LECTURE: What is the Value of Travel Time? New Evidence from the UK

In July of this year the Western Australian Government released Transport @ 3.5 Million, the Perth transport plan for 3.5 million people and beyond. The plan outlines a vision for investment in road, rail and active transport infrastructure. The most important measure used to appraise new transport infrastructure is the value of travel time savings these investments afford. Whether for commuting, transporting freight or travelling for leisure, the value of time dominates the landscape of transport funding.

The UWA Business School is proud to host BHP Billiton visiting Professor Stephane Hess from the Institute of Transport (Leeds), who will expound on the United Kingdom’s large scale inquiry into the value of time for its citizens. The talk will cover the motivation for undertaking such a study, as well as presenting methods used and current values of travel time adopted in the UK. The presentation reflects on recent advancements in the way value of travel time data is collected and modelled. The evening’s presentation highlights the difference between previous estimates of travel time values and those currently in use. Furthermore, Professor Hess will explain the variation in the values for different traveller segments and trip purposes.