Own and cross-price elasticities of demand for domestic flights and intercity trains in the U.S. |
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| Affiliation: | 1. Department of Spatial Economics, VU University Amsterdam, The Netherlands;2. Sauder School of Business, University of British Columbia, Canada;3. China Academy of Financial Research, Shanghai Jiao Tong University, China;1. School of Mathematical Sciences, University of Electronic Science and Technology of China, Chengdu, China;2. Institute of Transport and Logistics Studies, The University of Sydney, Sydney, Australia;3. Sauder School of Business, University of British Columbia, Vancouver, Canada;1. Department of Economic Analysis and IEI, University of Valencia, Campus del Tarongers, 46022 Valencia, Spain;2. Department of Economic Analysis and ERI-CES, University of Valencia, Campus del Tarongers, 46022 Valencia, Spain;3. Department of Economic Analysis and ERI-CES, University of Valencia, Valencia, Spain;4. CORE-UCL, Lovain-la-Neuve, Belgium;1. Department of Economic Analysis and IEI, University of Valencia, Campus del Tarongers, 46022 Valencia, Spain;2. Department of Economic Analysis and ERI-CES, University of Valencia, Campus del Tarongers, 46022 Valencia, Spain;3. Department of Economic Analysis and ERI-CES, University of Valencia, Valencia, Spain;4. CORE-UCL, Lovain-la-Neuve, Belgium;1. University of Bergamo, Department of Management, Information and Production Engineering, via Pasubio 7, 24044 Dalmine, BG, Italy;2. Cranfield University, Centre of Air Transport Management, University Way, Cranfield, Bedfordshire MK43 0TR, UK |
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| Abstract: | In 2009, the U.S. Federal Government announced its plan to invest in the expansion of the passenger rail system, instead of adding to the freeway or aviation systems. On the other hand, environmental studies show that passenger rails have a lower polluting impact than flights or cars. In order to evaluate whether consumers would switch from flights to trains and use the new rail system, this paper estimates the own and cross-price elasticities of demand for domestic flights and passenger trains using the methodology described in Berry (1994). Specifically, the changes in demand for domestic flights and trains with respect to their prices are evaluated. The static model in this study suggests that the substitutability between these two modes of transport is minimal, in other words, travelers will to change their choices is very small given the configuration of the transportation system when the notice was made. In particular, train trips are substituted more easily. |
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