Research on Demand Price Elasticity Based on Expressway ETC Data: A Case Study of Shanghai, China

Author:

Li Yunyi1,Shao Minhua2,Sun Lijun2,Wang Xinmiao3,Song Shizhao3

Affiliation:

1. The Key Laboratory of Road and Traffic Engineering, Ministry of Education, Shanghai 201804, China

2. Department of Transportation Engineering, Tongji University, Shanghai 201804, China

3. Hebei Province Highway Jingxiong Preparatory Office, Baoding 071000, China

Abstract

The research on price elasticity of demand, especially in the field of transportation, has high theoretical and application value. Based on the perspective of price elasticity of demand, the study presents the impact of adjusting expressway rates on the traffic flow of cars with seven seats or less. The data are from the measured data of the Shanghai expressway Electronic Toll Collection (ETC) from 2019 to 2020. In order to eliminate the impact of the surge of ETC users in 2019 on the results, Empirical Mode Decomposition (EMD) is used to optimize the data. The research shows that the price elasticity of demand will increase with the increase in charge amount (distance).

Funder

National Key Research and Development Project

Science and Technology Innovation Action Plan of Shanghai Science and Technology Commission

National Natural Science Foundation of China

Publisher

MDPI AG

Subject

Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development,Building and Construction

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