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Elasticities of traffic

Authors
Publication Date
Keywords
  • Univerzitetni Program Gradbeništvo - Prometna Smer
Disciplines
  • Design
  • Economics

Abstract

Elasticity is usually the common standard according to which we observe the responses of consumers and sellers to the changes on the market; the latter are influenced by various factors: the price of substitutes and complementary goods, the preferences and consumer’s income. However, in transport we also consider the following factors – the reason for travel, time period, how much time there is to spare and vehicles. Thus, in my dissertation I strive to point out just how much the demand for transport depends on external conditions and transport services. In the theoretical section I have summed up various types of elasticity described by different authors; however, in the practical section of the dissertation the main focus is on the travel time and gross domestic product (GDP) as they tend to be one of the most important factors influencing the decision of which route to take and how many journeys to make. In the first part of the practical section, with regard to GDP growth the calculated elasticity values of traffic work are given; whereas in the second part, the elasticity values of traffic according to travel time are stated and these based on two different, but real-life cases in Slovenia. In the third part of the practical section the analysis of the stated preference survey is presented for which I have made use of the logit model; in the analysis people’s responses to the changes in transport services are reported. All in all, in this dissertation I have set some parameters to design a model which can in the future prove to be efficient in planning and predicting decisions to travel.

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