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THE ECONOMIC VALUE OF TIME AND THE WAGE RATE: COMMENT

✍ Scribed by BARRY R. CHISWICK

Book ID
115201798
Publisher
Oxford University Press
Year
1967
Tongue
English
Weight
119 KB
Volume
5
Category
Article
ISSN
0095-2583

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## Abstract Three measures of the value of time – willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate – are evaluated and compared. WTP and WTA were estimated from the two‐part regressions of time price, using c