Citation

Atkinson D, Lewis D. Proc. IRCOBI 1975; 3: 185-199.

Copyright

(Copyright © 1975, International Research Council on Biomechanics of Injury)

DOI

unavailable

PMID

unavailable

Abstract

An econometric model relating traffic levels to the price of petrol and other variables has been developed using data from automatic traffic counters in the Greater London area. The data are monthly and divided by time of day and day of week. Estimates of price elasticity vary from -0.08 during the peak to -0.14 at the weekend. Secular growth and seasonal variation in traffic levels have also been determined and the effect of the two month petrol shortage in 1973-74 has been isolated. Evidence is presented which suggests that a structural change in the parameters which determine traffic volumes has occurred as a result of permanently higher petrol prices.