This paper presents evidence that there is a hysteresis effect in the demand for transport usage with respect to price. Consequently the neoclassical concept of a smooth continuous demand curve is questioned. The author presents a hysteresis model whereby changes in demand and of demand are embraced in a single theory related to generalized cost.
Hysteresis in travel demand
Transportation Planning and Technology ; 6 , 2 ; 109-115
1980-01-01
7 pages
Article (Journal)
Electronic Resource
Unknown
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