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Meta-analysis of price elasticities of travel demand in great britain: Update and extension

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  • Wardman, Mark

Abstract

Price elasticities are widely used in transport planning, forecasting and appraisal. This paper presents the largest ever meta-analysis of price elasticities of travel demand based on 2023 elasticities drawn from 204 British studies published between 1968 and 2020. A large number of credible variations in elasticities emerge that add to the evidence base, challenge some official recommendations and are useful to practitioners. The paper also presents an original meta-analysis of the length of time until the long run is achieved, based on 386 observations obtained from 47 studies. This is an important complement to the price elasticity meta-analysis and it also challenges official recommendations. Whilst the research is based on British evidence, the insights of a methodological nature at the least are transferable to other contexts.

Suggested Citation

  • Wardman, Mark, 2022. "Meta-analysis of price elasticities of travel demand in great britain: Update and extension," Transportation Research Part A: Policy and Practice, Elsevier, vol. 158(C), pages 1-18.
    • Handle: RePEc:eee:transa:v:158:y:2022:i:c:p:1-18
    DOI: 10.1016/j.tra.2022.01.020
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