This report reviews the information available on the elasticity of bus patronage with respect to the fares charged, both in the uk and in other countries. Estimates of overall fares elasticity obtained across individual fares changes, from time-series analysis and from cross-sectional data are all consistent with a typical mean value of -0.3 in a range from -0.1 to -0.6. These values appear to be much the same in the different countries from which the data was obtained, and they have been stable over time. Elasticities at off-peak travel times seem to be about twice those in the peak, short-distance elasticities are larger than those for long journeys, demand from 'non-captive' passengers may be twice as elastic as that from 'captive' passengers, and urban rail travel is found to be only half as elastic as bus travel. (Author/publisher)
Abstract