Review and meta-analysis of U.K. time elasticities of travel demand |
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Authors: | Email author" target="_blank">Mark?WardmanEmail author |
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Institution: | (1) Institute for Transport Studies, University of Leeds, Leeds, LS2 9JT, UK |
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Abstract: | In contrast with reviews of values of time and price elasticities, the literature contains little by way of detailed reviews
of travel time based choice and demand elasticities. This paper reports the most extensive meta-analysis of time-based demand
elasticities yet undertaken, supplemented with a review of literature not previously in the public domain. The meta-analysis
is based upon 427 direct elasticities covering travel time, generalised journey time (GJT) and service headway and drawn from
69 UK studies. The elasticities are found to vary, as expected, across attributes, and quite strong effects have been detected
according to distance. We provide interesting insights into the relationship between long and short run elasticities and elasticities
obtained from static models and choice models based on actual and hypothetical preferences. Significantly, the results seem
to indicate that the duration for the long run demand impact to work through depends upon the periodicity of the model estimated.
There is little variation apparent by journey purpose, source of the evidence, nor over time or by region/flow type, whilst
travel time elasticities for high speed rail are not materially different from conventional contexts. The findings support
some official elasticity recommendations and conventions but challenge others, and can be used to provide time-based elasticities
where none exist or to assess new empirical evidence. |
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Keywords: | |
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