The Economics And Importance of Speed

by Herbert S. Levinson,


Serial Information: Journal of the Highway Division, 1968, Vol. 94, Issue 1, Pg. 1-20


Document Type: Journal Paper

Abstract: The economics and importance of speed underlies most transportation improvements, because many of the resulting benefits are measured by the time saved. The economic value of travel time has been the subject of many studies and is basic to transport system evaluation. Both intraurban and interurban mobility have increased as a result of air travel advances and extended highway construction. Speeds also influence the choice of travel mode both within and between cities. As the nation's economy expands, people will place a higher value on time. Simultaneously, they will have greater ability to support capital transport improvements.

Subject Headings: Economic factors | Travel time | Interurban travel | Infrastructure construction | Urban areas | Assets

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