FARE POLICY STUDY

A comprehensive review of the fare structure of the Greater Richmond Transit Co. (GRTC) is presented; based on the review changes were recommended for fares effective May 1, 1981. The effects of the changes were then assessed using the arc elasticity method. Generally the fare changes resulted in ridership and revenue changes that would be typically expected. The multiple-ride fare programs exhibited unusual elasticity characteristics. While increases in these were comparable with the individual-ride fare increases, the larger initial cash outlay required of the customer meant that not only the ridership but the revenue actually decreased. Alternatives such as zone fares, elimination of transfer charges and off-peak discounts were considered but discarded. The existing flat fare structure was subjected only to price increases.

• Corporate Authors:

  Abrams-Cherwony and Associates

  PSFS Building, Suite 3139, 12 South 12th Street
  Philadelphia, PA  United States  19107
• Publication Date: 1982-6

Media Info

• Features: Appendices; Tables;
• Pagination: v.p.

Subject/Index Terms

• TRT Terms: Elasticity (Economics); Fares; Pricing; Ridership; Transfers
• Geographic Terms: Richmond (Virginia)
• Old TRIS Terms: Multiple ride; Passes
• Subject Areas: Economics; Finance; Public Transportation;

Filing Info

• Accession Number: 00373677
• Record Type: Publication
• Files: TRIS
• Created Date: Jun 30 1983 12:00AM