Recent developments in the pricing of local public transport services

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Abstract
This review examines the pricing of public transport services, taking as its starting point urban and short‐distance bus services. Simple forms of average cost pricing are discussed, and the implications of recent developments in costing techniques (especially those related to peak capacity) are illustrated. An equitable and efficient approach will generally require charging different fares at different periods. Evidence of user elasticity of demand by price is then considered, related to journey length, and other factors. It is argued that the concept of user response and perception is more meaningful than ‘elasticity’ as such, and that the case for systems involving different methods of payment, such as flat fare and travelcard, may be stronger than generally assumed.

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