SPATS - Prog for Maintaining a Robost Valuation of Travel Time services

The recently finished Value of Time research (completed in 2015) was highly innovative in its field, applying world leading analytical techniques in order to robustly model the values of time based on stated preference survey evidence of willingness to pay for travel time savings. However, survey and modelling techniques relevant for assessing the value of time are constantly being developed in academia, industry and the public sector, so it is necessary to keep abreast of these developments if the DfT's value of time assumptions are to remain a robust and defensible basis for supporting decision making.