passengers exhibit a higher time valuation, and a less price-elastic demand, than leisure passengers. Our main result is the … identification of the time-valuation effect of price discrimination, which can work in the opposite direction as the well …-known output effect on welfare. This time-valuation effect clearly explains why discriminating prices can improve welfare even when …

This paper proposes an alternative, dynamic framework for estimatingtime-varying values of travel time savings and … values of schedule delay, in whichtime-preferences are represented as the time-varying excess willingness to pay(EWPT) to … being in the one location, over being elsewhere. It is shown how theconventional linear model, with time-independent values …

Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … in choice experiments. These choice reversals may however also result from time-varying discount rates. Hyperbolic … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our …

weighted temporal utility function can have time consistent yet non-stationary preferences or stationary yet time inconsistent … intertemporal choice that assume non-linear time perception to be the sole driver of non-stationary and time-inconsistent behavior …