Comparative modeling analysis reveals greater public transit adoption from fare reductions than car cost increases, indicating asymmetric travel demand elasticity.
Residence mode choice behavior is affected by various factors, and research on the effects of travel cost would give valuable guidance in making cost-related travel demand management policy. Logit models are widely used in mode choice analysis and this paper estimates three kinds of logit models, namely MNL, NL and ML, to choose the most suitable one in analyzing cost adjustment affection. Estimation results show that market shares of car and PT interact obviously given cost change. 10% decrease of PT cost seems to have a better promoting effect of PT share increase than 10% increase of car cost.
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Bai et al. (2017) studied this question.
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