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Welcome to Chris Bennett's and Lis Pedersen's web site. If you are looking for information Chris' current work on affordable housing, please visit www.mygbhousing.info. The video below tells the background to Chris' project.

 

2021 - USA - Value of Urgency

787 Downloads

2021 - USA - Value of Urgency

This is a really interesting paper on the value of travel time. 

Neoclassical microeconomic theory postulates that the value of time is a fraction of an individual’s hourly wage. When taken to the marketplace, however, this value appears to depart from theoretical predictions. To reconcile them, we conceptualize the value of urgency, which reflects penalties for lateness. Observing users repeatedly entering tolled lanes in freeways, we estimate individual hedonic price functions, and show that the value of urgency accounts for 87 percent of total willingness-to-pay for time savings. We document how traditional approaches for cost-benefit analysis fail to detect this benefit, underestimating the true value projects deliver to a large number of individuals.

File Name: 2021_usa_value_of_urgency.pdf
File Size: 1.06 MB
File Type: application/pdf
Hits: 1828 Hits
Download: 787 times
Created Date: 13-02-2021
Last Updated Date: 25-07-2024

Adventures

Chris in the NCT Race 

Chris has an adventurous spirit which generally involves cycling, running, or just being out there having a good time. Read his 'Race Reports' below. This is a link to his SPOT GPS tracker. If you are interested in his 'geeky' sport technical blog it is at www.tri-duffer.com. He also has stories of his life as 'An Overtravelled Engineer Working for the World Bank' at World Bank Traveller.

 

Race Reports

Technical

Document Library

 

  • Chris' published papers and reports are here.
  • His Technical Library  has a range of reports 
  • Golden Bay community projects are here.
  • The history of the ROMDAS company is here.
  • The 'Road to Good Health' HIV/AIDs Toolkit is here.

 

Technical Library

Chris and Lis

Chris and Lis

We are Lis Pedersen and Chris Bennett. We’ve been married over 30 years and each found our way to New Zealand in the early 1980s from Denmark and Canada respectively. Golden Bay has been our happy place for almost 20 years and we are now based in Pohara just above the beach, with our two cats Coco and Max. 

 

 

 

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