Price Elasticities of Nonbusiness Air Travel Demand
- 1 March 1980
- journal article
- Published by American Society of Civil Engineers (ASCE) in Transportation Engineering Journal of ASCE
- Vol. 106 (2) , 217-225
- https://doi.org/10.1061/tpejan.0000847
Abstract
This paper describes a study of the historic evolution of nonbusiness air travel in the United States. A model is constructed and calibrated to describe this evolution. The purpose of the study is to investigate the sensitivity of this type of air travel to price changes using the elasticity as a measure. It is concluded that both short run and long run elasticities of demand are less than unity. Air travel demand appears to have been determined primarily by the developments in income and consumption levels.Keywords
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