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Reason Foundation

How much is your time worth? Twice as much as you think

Ted Balaker
June 27, 2006, 11:27am

People tend to bristle at road pricing when they think of it in the abstract, but they're friendlier to it when they experience it firsthand. Why? Part of the reason is because we value our time more than we say we do: UCI's Ken Small worked on putting a dollar figure on how much we value our time: More here. The gap between what people say and what they do is also very apparent when they consider public transit. But in this case, transit looks much better in theory than in practice. Folks who live in areas that don't have extensive transit systems often dream about zipping past congestion in a sleek rail car and those who have big transit systems like them more than they use them.

Ted Balaker is Producer


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