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Title:

Ridership Changes and Price Elasticity Based on a 2013 Fare Hike in New York City

Accession Number:

01629519

Record Type:

Component

Abstract:

The objective of this paper is to study New York City subway riders’ reaction to the fare hike, which took place on March 3rd, 2013. The latest study on subway elasticity in New York City was done in 2005 (1). This study proposed an edited form of an elasticity formula to minimize the effect of some socio–economic factors on ridership changes in the short term. Price elasticity values for different types of metro-cards were calculated for New York City at the city level, as well as the borough and traffic analysis district level. This paper found that the ridership changes after the fare hike for different metro-card types are significantly correlated to the socio-economic and land use features of each district. The total elasticity for NYC is reported as -0.036. To separate the effect of fare changes from effects of other factors on ridership, the rate of ridership growth before the fare changes is also studied.

Supplemental Notes:

This paper was sponsored by TRB committee AP030 Standing Committee on Public Transportation Marketing and Fare Policy. Alternate title: Ridership Changes and Price Elasticity Based on Fare Hike in 2013 in New York City.

Monograph Accession #:

01618707

Report/Paper Numbers:

17-05572

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Faghih, Sabiheh Sadat
Kamga, Camille
Yazici, M Anil
Wan, Dan
Mudigonda, Sandeep

Pagination:

15p

Publication Date:

2017

Conference:

Transportation Research Board 96th Annual Meeting

Location: Washington DC, United States
Date: 2017-1-8 to 2017-1-12
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

Figures; Maps; References; Tables

Geographic Terms:

New York (New York)

Subject Areas:

Economics; Planning and Forecasting; Public Transportation

Source Data:

Transportation Research Board Annual Meeting 2017 Paper #17-05572

Files:

TRIS, TRB, ATRI

Created Date:

Dec 8 2016 12:13PM