What is the value of travel time?
What is the value of travel time? The Value of Travel Time (VTT) refers to the cost of marginal changes in time spent travelling. The Value of Travel Time Savings (VTTS) refers to the benefits provided by reductions in the amount of time spent on travel. Time is a valuable and scarce resource.
What is a travel fee?
The travel fee is the fee the customer pays for accommodation costs, food and travel costs if needed.