Time value of passengers

This paper analyzed the characteristics of time value and its basic calculation method, put forward improvement suggestions, and established the time value models for passengers' free choices in the terms of consumer action theory and benefit-cost principles, which can not only meet the needs of the macroscopic economic evaluation, but also fit for microscopic traffic analysis. Taking the passengers' transportation from Gansu province to Shaanxi province in China as an example, this model was ulitized to calculate the passengers' time value. The results are quite satisfactory.