Wardman, M and Batley, R (2014) Travel time reliability: a review of late time valuations, elasticities and demand impacts in the passenger rail market in Great Britain. Transportation, 41 (5). pp. 1041-1069. ISSN 0049-4488
Abstract
This paper provides an extensive review and reconciliation of British and European evidence relating to the value of, and demand responses to, rail reliability. In particular, we compare the elasticities implied by stated preference valuations of late time with directly estimated lateness elasticities. We find that the implied lateness elasticities are substantially greater than those directly estimated. A possible explanation for this is that lateness has been over-valued, but more sobering explanations would be to suggest that, whilst rail travellers dislike unreliability, they may be unwilling or unable to reduce their rail travel in response to experiences of poor performance, or else conventional economic approaches to deducing elasticities are not appropriate. The findings have been used to update the recommendations of the UK rail industry’s Passenger Demand Forecasting Handbook.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © Springer Science+Business Media New York 2014. This is an author produced version of a paper published in Transportation. The final publication is available at Springer via http://dx.doi.org/10.1007/s11116-014-9526-5. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Rail reliability; Valuations of late time; Lateness elasticities |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds) > ITS: Economics and Discrete Choice (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 25 Jul 2016 11:38 |
Last Modified: | 17 Jan 2018 12:38 |
Published Version: | http://dx.doi.org/10.1007/s11116-014-9526-5 |
Status: | Published |
Publisher: | Springer Verlag |
Identification Number: | 10.1007/s11116-014-9526-5 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:101811 |