PUBLIC TRANSPORT FARE ELASTICITIES: A DYNAMIC PERSPECTIVE

Most models of public transport demand are based on a static equilibrium assumption. Previous limited dynamic analysis suggests there are substantive differences between the short and long term effects of fare revisions. Empirical evidence on the delayed response of bus patronage to fare revisions in the West Midlands is presented. Elasticities after a four year period are indicated as 1.75 times the short term figure of approximately -0.45 for adult single tickets, and 2.5 times the short (but not immediate) figure of around -0.20 for travel cards. In the case of both adult single and adult travel card demand the profile of change is not a simple monotonic pattern, but a more complex fall and rise.

• Corporate Authors:

  University of Oxford

  Transport Studies Unit, 11 Bevington Road
  Oxford,   United Kingdom  OX2 6NB
• Authors:
  • McKenzie, R P
• Publication Date: 1985

Media Info

• Features: Figures; References; Tables;
• Pagination: 13 p.

Subject/Index Terms

• TRT Terms: Demand; Dynamics; Elasticity (Economics); Fares; Level of service; Mathematical analysis; Pricing; Public transit; Ridership; Tariffs; Transportation
• Geographic Terms: United Kingdom
• Old TRIS Terms: Passes
• ITRD Terms: 6471: Analysis (math); 285: Demand (econ); 5473: Dynamics; 653: Level of service; 744: Public transport; 241: Tariff; 1155: Transport; 8119: United Kingdom
• Subject Areas: Finance; Planning and Forecasting; Transportation (General);

Filing Info

• Accession Number: 00455411
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• Report/Paper Numbers: TSU 306
• Files: ITRD, TRIS
• Created Date: Jul 31 1986 12:00AM