DEMAND ELASTICITIES FOR INTERCITY ROAD PASSENGER TRAVEL IN NIGERIA
Elasticity examines the relative importance of causal factors. The log-linear models analyzed the revealed preference data from the period of 2014 to 2016 in 16 transport companies in Owerri. The result showed aggregate fares elasticities are low. It agrees with conventional public road transport fares elasticity value of -0.3. The estimation was smallest for distance elasticities. All frequency coefficients show that passengers prefer routes with high frequency. The coefficients of journey time portray that passengers prefer routes with shorter journey time. This paper provides a framework for the transport companies to estimate demand and to ensure business sustainability.
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