Ommeren, Jos van; Dargay, Joyce - Tinbergen Institute - 2004
In this paper, we derive a structural model for commuting speed. We presume that commuting speed is chosen to minimise … commuting costs, which encompass both monetary and time costs. At faster speed levels, the monetary costs increase, but the time … costs fall. Using data from Great Britain, we demonstrate that the income elasticity of commuting speed is 0.126. The ratio …