$7 per hour used by the Federal Highway Administration and transportation researchers to value time spent in traffic delays (U.S. General Accounting Office, 1989; Wegmann, 1989). (Only the upper-bound and lower-bound cases are presented in Table F.7; the lower bound assumes a 20 percent increase in highway speed and values delays at $5 per hour, while the upper bound assumes a 5 percent increase in highway speed and values delays at $10 per hour.)
Thus the total cost of this parking management program is as follows:
The total cost thus ranges from -$4.75 billion to $2.59 billion.
1. Throughout this report, tons (t) are metric; 1 Mt = 1 megaton = 1 million tons.
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