Price Elasticities of Surface Travel Demand A Meta-analysis of UK Evidence
Journal of Transport Economics and Policy, 2014, vol. 48, issue 3, 367-384
This paper reports the largest meta-analysis yet of price elasticities of travel demand, covering 167 UK studies and 1,633 elasticities for the surface modes of car, rail, bus, and underground. A large number of influences on price elasticities have been examined and methodological issues addressed. Generally plausible relationships with journey purpose, mode, ticket type, area, and distance have been recovered, while important insights are provided into how price elasticities vary between the short and long run, according to data type and model formulation, and over time. The elasticities implied generally support official recommendations and conventional wisdom, but provide some challenges. © 2013 LSE and the University of Bath
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Persistent link: https://EconPapers.repec.org/RePEc:tpe:jtecpo:v:48:y:2014:i:3:p:367-384
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