TRACE - Costs of Private Road Travel and their Effects on Demand, Including Short and Long Term Elasticities
Overview
Background & policy context:
There is strong interest from policy-makers in the measures that might be applied to reduce or rationalise the use of private cars, in order to alleviate such problems as congestion and poor urban air quality. However, this requires some prior assessment of the likely impact on car travel demand associated with each policy option. For example, what is the likely effect of road pricing on the number and distance of trips? Such effects can be quantified as 'elasticities', defining the percentage change in a response variable (such as vehicle kilometres driven) to a 1% change in an independent variable (such as travel cost per kilometre).
Objectives:
The aim of the TRACE project was to provide elasticities that can be used for a first order assessment of the effects of changes in car travel time and car travel cost (including parking charges) on car travel demand and on demand for other modes, for a range of contexts.
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