Passenger Value of Time, Benefit-Cost Analysis, and Airport Capital Investment Decisions. Volume 1. Guidebook for Valuing User Time Savings in Airport Capital Investment Decision Analysis.

摘要

Travel time is often a significant consideration in benefit-cost analysis (BCA) for transportation projects and policies, and in recent years, there has been greater emphasis on use of BCA for airport capital investment. The Federal Aviation Administration (FAA) requires benefit-cost analysis for airport capacity enhancement projects funded through the Airport Improvement Program (AIP). Similarly, US Department of Transportation (USDOT) considers the result of cost-benefit analysis when selecting projects for discretionary funding programs, such as the recent TIGER (Transportation Investment Generating Economic Recovery) Program grant rounds. The Office of Management and Budget (OMB) has also long required the USDOT to estimate the incremental costs and benefits during Regulatory Impact Analysis (RIA) for rulemaking, such as occurred for the 2009 Enhanced Airline Passenger Protections (or “Passenger Bill of Rights”) rule. The same need to understand the benefits and costs of investments applies to airport managers. Airports invest billions of dollars in infrastructure and service investments, yet airport owners and operators have relatively limited information on how customers value the impact of these investments. In addressing the question of how to best allocate limited resources, one can ask “would air travelers prefer improvements to the airport access roads, improved security processing times, or a people-mover connection between terminals?” This guidebook provides a method for airport owners and operators to determine how their customers value the travel time impacts of efficiency improvements.