What Would You Pay To Save An Hour?
Sort of like a Disney Lightning Lane, you can pay for a Clear membership that will move you to the front of a TSA line before your flight. Similarly, at Killington, you can pay extra for a Four-Day Fast Track skiing experience while Universal Studios charges you to bypass the line. By paying to skip the line, you’ve said that your time matters more than your money. But how much? In a 2020 NBER paper, researchers calculated the value of time (VOT). Focusing on 3.7 million Lyft ride share users in 13 cities, they created six time/price pairs to see what customers valued. ….[READ]
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