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In transport economics, the generalized cost is the sum of the monetary and non-monetary costs of a journey. Monetary (or "out-of-pocket") costs might include a fare on a public transport journey, or the costs of fuel, wear and tear and any parking charge, toll or congestion charge on a car journey. Non-monetary costs refer to the time spent undertaking the journey. Time is converted to a money value using a value of time figure, which usually varies according to the traveller's income and the purpose of the trip. The generalised cost is equivalent to the price of the good in supply and demand theory, and so demand for journeys can be related to the generalised cost of those journeys using the price elasticity of demand. Supply is equivalent to capacity (and, for roads, road quality) on the network ==Basic form== In a basic form, the generalised cost (g) is composed of the following: * ''p'' refers to the monetary (out-of-pocket) costs of the journey. * ''u(w)'' refers to the non-monetary (time) costs of an uncongested journey. This is a function of ''w'' (in the transport economic model, ''w'' is a measure of road standard or public transport service level, both of which are related to capacity). When the free-flow journey time is known, ''u(w)'' can be calculated as the product of the journey time (''t'') in uncongested conditions and the opportunity cost of the traveller's time (''τ''), so that . 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「generalised cost」の詳細全文を読む スポンサード リンク
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