Project: Review of Income & Price Elasticities in the Demand for Road Traffic

Reference: H130

Last update: 09/09/2003 16:37:00

Objectives

The objective of this project is to produce a literature review of the elasticity of car traffic (vehicle kilometres) with respect to fuel costs per km, the elasticity of both car and total road traffic with respect to generalised costs of travel and similiar elasticity calculations. Within the generalised costs of travel, it has been expected that the element for fuel cost would fall relative to all costs due to improvements in vehicle efficiency and because values of time would increase with time.

Description

Part of a series of projects were different aspects of the new NTM modelling framework, this will be examined to ensure the model, and its outputs, stand up to public scrutiny.

Contractor(s)

University College, London
Centre for Transport Studies , Gower Street , London, WC1E 6BT
020 7679 7009

Imperial College of Science Technology and Medicine
Centre for Transport Studies, Department of Civil and Environmental Engineering, London, SW7 2BU
0207 594 6089

Contract details

Cost to the Department: £56,045.00

Actual start date: 15 June 2001

Actual completion date: 18 July 2002

Publication(s)

Review of Income & Price Elasticities in the Demand for Road Traffic
Author: Mark Hanly, Joyce Dargay and Phil Goodwin
Publication date: 07/05/2004
Source: DfT Website
More information: http://www.dft.gov.uk/pgr/economics/rdg/reviewofincomeandpriceelasti3102

Summary of results

  1. There was a steering group which incorporated economists from across the Department, and the contractors plan to publish papers in economic journals based on their work. Helped to highlight data and econometric issues. No definitive results.

Departmental Assessment Status: Project completed prior to the implementation of the Departmental publications scheme.