When deciding on modes of travel, American consumers often want to know which method is the most economical and safest. Answering these questions requires us to analyze a variety of sometimes complex statistics. But while the numbers themselves may be somewhat complicated, the results are not. For commuting, statistics indicate that public transit can save consumers thousands per year, which is logical, as this option removes many of the costs of vehicle ownership and operation. For longer trips, data indicate that rail travel fails to compete with air travel, which is more convenient and, often, cheaper. Air travel also is arguably safer than rail or automobile transport. Automobile transport results in more fatalities than air or rail travel, and, while more people die each year on domestic planes than trains, consumers are far more likely to be injured on a train. In short, when it comes to cost and safety, air travel is the best option for many consumers.
             Economics: Mass transit and air travel have advantages
             When it comes to calculating the most economical means of travel, a great deal depends on the distance of the travel and the value of one's time. For a simple half-mile trip to a convenience store, the most cost-effective means of travel may be walking or bicycle, as opposed to incurring gasoline costs from driving. But walking and biking will take more time, and that time has a value that may be assigned differently from person to person. There are some clear instances where the amount of time would create a major cost pressure. Bicycling, for example, would arguably not be an economical way to travel cross country. Despite saving several hundred dollars on air travel, the excessive time such a journey would take would result in weeks of hotel and food bills, and other expenses. So, while we may never get our arms fully around the issue of time value, except in the most egregious cases, we can still analyze other st...