We estimate shortrun generalised cost elasticities using a case study where high road tolls have been removed, and assess how these elasticities vary through out the day and the week. The characteristics of this case enable us to iso late the demand effect because there are no alter native routes. Our results show that the elasticity is twice as high at the week end as during the work ing week, with stable effects through out the days in the work ing week. We also use the results to illustrate a use of time varying tolls to maximise welfare (second best road tolls) under a financial constraint.
Tveter et al. (Sat,) studied this question.
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