FILLING UP AND VALUATION OF TIME

This article deals with the valuation of travel time. The valuation of time losses is deduced from a survey of cross-border traffic. Because of different levels of fuel prices in the Netherlands, Germany and Belgium, people invest their time in order to receive monetary benefits in the form of cheaper gasoline on the other side of the border. It is shown that the valuation of these time losses is considerably higher than the average value of time (based on a mix of time gains and losses) now used by Rijkswaterstaat with respect to the evalation of infrastructure projects. (A)