Most models of public transport demand are based on a static equilibrium assumption. Previous, albeit 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 travelcards. In the case of both adult single and adult travelcard demand the profile of change is not a simple monotonic pattern, but a more complex fall and rise.
Public Transport Fare Elasticities: A Dynamic Perspective
1985
15 pages
Report
No indication
English
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