Appraisals and evaluations were a new and interesting topic for me to explore this week and I will be reflecting on this subject today. Specifically, I want to highlight the problematic task with placing a value of time travel and the possibility of doing so for active transportation. Placing a value on our time is a fascinating concept. As postulated in the literature, in using a set of values of time, the economic benefits of a transport project can be quantified in order to compare them to the costs, thus forming the basis of cost-benefit analysis.
The most fascinating take away for me in looking at this is that the value of time varies considerably from person to person and depends upon the purpose of the journey - for instance, is the person attending a job interview or are they simply heading out to get a coffee? Are they meeting someone, or are they going alone? Do they need to cross a dangerous intersection? Valuing time accurately is fraught with complexities and using a single value doesn't always capture the many variables and circumstances at play.
This also brings up the issues of valuing active transport. Unique to active transport modes is that you can't work while you undertake these activities - so our value of time may increase. It's also important to note that unlike motorised trips which are usually undertaken to consume an activity at a destination, many active transport trips are discretionary and occurring for their own sake. For instance, I primarily walk when I take my dogs out at night. It also appears that numerous co benefits of these modes exist due to climate change mitigation and health, however due to the complexity in translating these to monetary values, they are often poorly undertaken or omitted from investment appraisals. I believe it is critical that we are able to adequately represent the likely impacts and benefits, especially the societal costs on a inactive nation (ie. greater in-hospital patient care).

