Business School

Public lecture: What is the Value of Travel Time? New Evidence from the UK

Dr Stephane Hess

Professor Stephane Hess, University of Leeds

What is the Value of Travel Time? New Evidence from the UK

In July of this year the Western Australian Government released Transport @ 3.5 Million, the Perth transport plan for 3.5 million people and beyond. The plan outlines a vision for investment in road, rail and active transport infrastructure. The most important measure used to appraise new transport infrastructure is the value of travel time savings these investments afford. Whether for commuting, transporting freight or travelling for leisure, the value of time dominates the landscape of transport funding.

The UWA Business School is proud to host BHP Billiton visiting Professor Stephane Hess from the Institute of Transport (Leeds), who will expound on the United Kingdom’s large scale inquiry into the value of time for its citizens. The talk will cover the motivation for undertaking such a study, as well as presenting methods used and current values of travel time adopted in the UK. The presentation reflects on recent advancements in the way value of travel time data is collected and modelled. The evening’s presentation highlights the difference between previous estimates of travel time values and those currently in use. Furthermore, Professor Hess will explain the variation in the values for different traveller segments and trip purposes.

Bio: Stephane Hess is Professor of Choice Modelling in the Institute for Transport Studies and Director of the Choice Modelling Centre at the University of Leeds. He is also Honorary Professor in Choice Modelling in the ITLS at the University of Sydney, affiliated Professor in Demand Analysis at KTH, Stockholm and has a director position at RSG. His area of work is the analysis of human decision using advanced discrete choice models. He is active in the fields of transport, health and environmental economics. Hess has made contributions to the state of the art in the specification, estimation and interpretation of such models, notably in a valuation of travel time context, where he has led the modelling on the most recent UK and German national studies, as well as the re-estimation of the Swiss study. He is also the founding editor in chief of the Journal of Choice Modelling and the founder of the International Choice Modelling Conference.

This event is proudly presented by the UWA Business School and BHP Billiton.

Date: Wednesday, 5 October 2016
Time: 6:00pm - 7:00pm
Venue: UWA Business School, Wesfarmers Lecture Theatre, Hackett Drive Entrance 4
Enquiries: Dr Brett Smith or 6488 3979