By Stuart Cole

* totally up-to-date 3rd variation of a longtime shipping textbook

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An extensive compilation and assessment of elasticity studies in Europe in 1992 (Goodwin, 1992) reviewed 50 demand elasticities studies from 1980–1990 for car and bus travel. 41 but indicated a wide variation between the short-term and long-term impacts. 65 Source: Goodwin (1992) Rail elasticity studies are more commonly carried out for Inter City services rather than urban operations where as suggested in the Serpell Report and as indicated by London Transport underground price elasticities are relatively low (see also SNCB, 1997).

34 Market Demand LT (1993) Fares and Ticketing Policy in London: From Travelcards to Smartcards Research Report 280, London Transport Planning Department, London. LT (1997) Night time is the right time, London Direct (October), London Transport, London. LT (2002) London Travel Report 2002, Transport for London. Maynard R (1992), Director Corporate Strategy, British Airways. Money Programme, BBC Television; London. ) Prices from operators. Pilling, M (2003), Price promise, Airline Business, April.

The development of out-of-town shopping centres and sports complexes has led to a demand for roads and car parks and a reduction in the demand for public transport for evening leisure travel. The 1950s pattern of social visits at weekends and evening trips to theatre, cinema and bingo has been largely replaced by a wider variety of car-based journeys. Demand for cinema seats has been superseded by television thus reducing demand for evening bus and train services, although in London there are still high load factors on central area route sections until late evening.

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