Revisiting the elasticity based framework: re-estimating growth and fare elasticities
Report about a study undertaken to re-estimate the background growth and elasticities used in rail passenger demand forecasting.
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In October 2008, Arup and Oxera were appointed by the Department for Transport to undertake the study, ‘Rail passenger demand forecasting: revisiting the elasticity-based framework’. The objective of this study is to re-estimate the background growth (economic, socio-demographic and land-use, and intermodal competition) and fare elasticities used in passenger demand forecasting.