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Price elasticity of demand for toll roads in Chile

Author

Listed:
  • Rodrigo Saens
  • Germán Lobos

Abstract

The efficiency of a road pricing scheme to optimize the use of transport infrastructure depends on the available information regarding the price elasticity of demand for bridges, tunnels and highways. The aim of this paper is to estimate the price elasticity of demand for toll roads in Chile using the seemingly unrelated regressions (SUR) method and a panel of 48 monthly data drawn from 21 toll plazas (48 x 21). Our results show that, even when controlling for gasoline prices and economic activity, the demand for road use is very price inelastic, with values ranging from -0.17 for cars and -0.05 for trucks.

Suggested Citation

  • Rodrigo Saens & Germán Lobos, 2013. "Price elasticity of demand for toll roads in Chile," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 79, pages 143-170.
    • Handle: RePEc:lde:journl:y:2013:i:79:p:143-170
    DOI: 10.17533/udea.le.n79a5
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    More about this item

    Keywords

    price elasticity of demand for roads; road pricing; toll highways;
    All these keywords.

    JEL classification:

    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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