Wardman, M. and Shires, J.D. (2003) Review of fares elasticities in Great Britain. Working Paper. Institute of Transport Studies, University of Leeds , Leeds, UK.
Empirical analysis of the behavioural impact of a wide range of travel variables has been conducted extensively in Britain over the past forty years or so. With the likely exception of the value of travel time (Wardman, 2001), the most widely estimated parameters have been price elasticities of demand and in particular public transport fare elasticities. The wealth of available evidence provides an excellent opportunity to obtain greater insights into fare elasticities and their determinants.
There have been numerous notable reviews of price elasticities (Ely, 1976; TRF&, 1980; Goodwin and Williams, 1985; Goodwin, 1992; Oum et al, 1992; Halcrow Fox et al., 1993; Wardman, 1997; Nijkamp et al., 1998; Pratt, 2000; De Jong and Gunn, 2001; Graham and Glaister, 2002; VTPI, 2003). The unique features of this study are that it covers a much larger amount of public transport evidence and a broader range of issues than previous reviews and, more significantly, it has developed a model to explain variations in fare elasticities across studies.
This review covers 902 public transport fare elasticities obtained from 104 studies conducted in Britain between 1951 and 2002. The markets covered are inter-urban rail travel, suburban rail travel, urban bus travel and London underground.
|Copyright, Publisher and Additional Information:||Copyright of the Institute of Transport Studies, University Of Leeds|
|Institution:||The University of Leeds|
|Academic Units:||The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds)|
|Depositing User:||Adrian May|
|Date Deposited:||16 Mar 2007|
|Last Modified:||25 Oct 2016 11:22|
|Publisher:||Institute of Transport Studies, University of Leeds|
|Identification Number:||Working Paper 573|