Prof. Dr. Kay W. Axhausen | Traffic and Transport Planning
Valuing (travel) time: Models and data for activity scheduling
«Time is money» is a common refrain today, but it raises some questions: What is time? How much money?
Self-reflection tells us that we value time in different ways: Spending time playing with a child is quite different from finishing some overdue work. Driving through the Engadine in an elegant auto is definitely a different time experience from standing in a crowded bus.
As a rule, the statistical projections that are applied today, could evaluate some but not all aspects of time. This kind of partial analysis will, however, distort the measures that the politicians and the public have taken action on, because they have only a partial view
In the first part of this project, a comprehensive approach will be presented, together with its developer, Prof. Jara-Diaz and then expanded and tested. He is in a situation to evaluate all parts of the day.
This model requires data of exceptional detail and depth. A corresponding new databank will be created in cooperation with the project partner, the University of Soil Science in Vienna. In addition to the four-week survey of the activities, travels and tasks, there will be experiments conducted in which the consideration of the values is placed directly in the centre.
In the last part, the models will be estimated for the various times and mainly for the essential person groups that are important for the planning and political evaluation of a measure.