Appendix C demand elasticities for highway travel.

Details

• Alternative Title:
  Demand elasticities for highway travel
• Creators:
  Lee, Douglass B.
• Corporate Creators:
  John A. Volpe National Transportation Systems Center (U.S.)
• Subject/TRT Terms:
  Demand Economic Analysis Elasticity (Economics) Highway Travel Prices Vehicle Miles Of Travel
• Resource Type:
  Research Paper
• Geographical Coverage:
  United States
• Corporate Publisher:
  John A. Volpe National Transportation Systems Center (U.S.)
• Abstract:
  An elasticity summarizes a large amount of information in a single number. Levels and
  
  distribution of incomes, price levels of the specific good and of substitute and complementary
  
  goods, preferences and tastes, transaction costs, etc., can, ceteris paribus, affect
  
  the measured value of any particular demand-price elasticity. The elasticity concept normalizes
  
  for the measurement scales (e.g., pounds or kilograms, dollars or pesos) and price levels (to the degree that the demand curve is constant elasticity), but other factors are ignored or implicitly averaged. Although the price elasticity of travel demand is frequently mentioned in discussion, there is no direct empirical measurement of elasticity with respect to the price of highway travel, and there are several alternatives about even what that price consists of.
  
  The review and synthesis presented in this Appendix was conducted for the purpose of
  
  establishing values for use in the HERS model to represent the short run elasticity of
  
  demand on a given highway section, and to estimate the long run share parameter used
  
  for estimating induced demand, as described in Appendix B.
  
  
• Format:
  PDF
• Collection(s):
  Volpe Center
• Main Document Checksum:
  urn:sha-512:57ea4376b26a9d5f400c9449b5783a20539a32e8430aef14d31bcca752884fabab09561ee1997a65de0fc7295a5f98cada69792300102051a59e7a57dce257ae
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/9724/dot_9724_DS1.pdf
• File Type:
  [PDF - 186.28 KB ]