Jos van Ommeren () (Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam) Joyce Dargay () (ESRC Transport Studies Unit, University College London)
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In this paper, we derive a structural model for commuting speed. We presume that commuting speed is chosen to minimise commuting costs, which encompass both monetary and time costs. At faster speed levels, the monetary costs increase, but the time costs fall. Using data from Great Britain, we demonstrate that the income elasticity of commuting speed is 0.126. The ratio of variabIe monetary costs to travel time costs is 0.14.
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Find related papers by JEL classification: R41 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion
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