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Travel time savings are usually the most substantial economic benefit oftransport infrastructure projects. However, questions surround whether smalltime savings are as valuable per unit as larger savings. Thresholds inindividual choice behaviour are one reason cited for a discounted unit valuefor small time savings. We demonstrate different approaches for modelling thesethresholds using synthetic and stated choice data. We show that theconsideration of thresholds is important, even if the discounted unit value forsmall travel time savings is rejected for transport project appraisal. If anexisting threshold is ignored in model estimation, the value of travel timesavings will be biased. The presented procedure might also be useful to modelthresholds in other contexts of choice behaviour.

Thresholds in choice behaviour and the size of travel time savings