Estimating the functional form of road traffic maturity
It has been observed that older high traffic motorways experience lower traffic growth than newer ones (ceteris paribus). This phenomenon is known as traffic maturity; however, it is not captured through traditional time-series long-term forecasts, due to constant elasticity to gross domestic product these models assume. In this paper we argue that traffic maturity results from decreasing marginal utility of transport. The elasticity of individual mobility with respect to the revenue tends to decrease when the level of mobility increases. In order to find evidences of decreasing elasticity we analyse a cross-section time-series sample including 40 French motorways' sections. This analysis shows that decreasing elasticity can be observed in the long term. We then propose a decreasing function for the traffic elasticity with respect to the economic growth, which depends on the traffic level on the road. This model provides a good explanation for the observed traffic evolution and gives a rigorous econometric approach to time-series traffic forecasts.
|Date of creation:||2008|
|Publication status:||Published in Networks and Spatial Economics, Springer Verlag, 2008, 8 (2/3), pp. 257-271. <10.1007/s11067-007-9049-0>|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00323046|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Patricia Mokhtarian & Francisco Samaniego & Robert Shumway & Neil Willits, 2002. "Revisiting the notion of induced traffic through a matched-pairs study," Transportation, Springer, vol. 29(2), pages 193-220, May.
- Anna Matas & José-Luis Raymond, 2002. "The demand elasticity on tolled motorways," Working Papers wp0203, Department of Applied Economics at Universitat Autonoma of Barcelona.
- Granger, C. W. J., 1981. "Some properties of time series data and their use in econometric model specification," Journal of Econometrics, Elsevier, vol. 16(1), pages 121-130, May.
- Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
- Graham, Anne, 2000. "Demand for leisure air travel and limits to growth," Journal of Air Transport Management, Elsevier, vol. 6(2), pages 109-118.
- Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, vol. 10(2), pages 139-162.
When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00323046. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.