A simulation method for determining the confidence interval of a weighted group average Value of Time
economics - value of time
In many countries, value of time (VOT) measures are frequently used for the appraisal of investments in road infrastructure and public transport facilities. In many more, VOT estimates are used as inputs to forecasting models. VOT provides a monetary measure of how much individuals are willing to pay for improvements in their travel circumstances or the avoidance of deterioration (congestion).
Ettema, D., & Gunn, H., & De Jong, G., & Lindveld K. (1997). Paper from The Association for European Transport Conference held on 1 January 1997.