A Model of the Elasticity of Railway Fare and Travel Time of General Trains

抄録

General trains, characterized by high accessibility, are heavily influenced by competing transportation methods, railroad policies, and environmental change. Thus, the development of a direct demand estimation model that can comprehensively reflect external environmental factors that impact passenger demand is required. This study has selected external determining factors that influence the demand for each train line based on the Saemaul Line, a line that exemplifies the general train lines in Korea, and followed by the construction of a direct demand estimation model based on the gravity model. This study analyzes the influence of the determining factors of railway fare and travel time. The results of the elasticity analysis on railway fare and travel time indicate that general train passengers are more sensitive to railway fares unlike the passengers of high-speed trains who emphasize the value of time. The analysis results can be used as basic data for line-specific train operation planning.