The values of elasticity estimated from the models with all significant variables are shown in Table 3.
It seems that the long-term elasticity to road pricing charges is about 42% higher than the short-term
value. The value of the short term road pricing elasticity is not high, but close to arc elasticity
observed during later years of ALS (Table 1). Table 3 shows that elasticity with respect to parking fees
is of a similar order of magnitude. It is also within the range of the studies reviewed by Oum et al.
(1992) and Goodwin (1992). The level of sensitivity of traffic volume entering RZ to price changes is
likely to be a reflection of, amongst other things, the ready availability (and expansion) of alternative
modes of travel serving the RZ and the availability of alternative routes for through traffic.