Trends in income and price elasticities of transport demand (1850-2010)

► Estimates trends in income and price elasticities of aggregate UK land transport demand (1850-2010). ► Income and price elasticities were very large in late 1800s and declined since then. ► In 2010, they were estimated to be 0.8 and −0.6. ► Future elasticities are likely to decline gradually in developed economies and faster in developing economies. ► Energy transitions may delay the decline in elasticities.