Policy analysts can estimate the value of the time sitting in traffic through ______.
A) contingent valuation methods
B) sensitivity analysis
C) risk evaluation
D) impact assessment

Question

Quizplus · Accepted Answer

Contingent valuation methods involve asking individuals how much they are willing to pay for a particular good or service. In the case of estimating the value of time spent in traffic, analysts can conduct surveys to ask individuals how much they would be willing to pay to avoid sitting in traffic or how much they would require as compensation for sitting in traffic for a certain period of time. This information can then be used to estimate the value of time spent in traffic. Sensitivity analysis, risk evaluation, and impact assessment are useful in analyzing policy options, but do not directly address the issue of estimating the value of time sitting in traffic.

Policy Analysts Can Estimate the Value of the Time Sitting