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on Transport Economics |
| By: | Brandon Dupont; Drew Keeling; Thomas Weiss |
| Abstract: | We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and examine the reasons for differences between the behavior of advertised fares and those based on passenger revenues. We find that while there are conceptual differences between these two measurements, as well as differences in the average values, the two generally moved in parallel, which means that the advertised fare series can serve as a reasonable proxy for movement of the revenue-based fares. We also find that advertised fares declined over time, roughly paralleling the drop in freight rates for U.S. bulk exports, until around 1890, but thereafter increased while freight rates continued to decline. We propose several hypotheses for this divergent behavior and suggest lines of future research. |
| JEL: | N10 N11 N7 N71 R41 |
| Date: | 2016–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22426&r=tre |
| By: | Longden, Thomas |
| Abstract: | Regular and irregular travel patterns coincide with different underlying purposes of travel and days of the week. Within this paper, it is shown that the balance between subsistence (i.e. work) and discretionary (i.e. leisure) activities is related to differences in travel patterns and explains consistency across years. Using eight years of time use diary entries this paper finds that travel time related to subsistence activities tends to be regular and stable. In contrast, travel time associated with discretionary activities tends to be more unpredictable and varies greatly between discretionary and non-discretionary days. These findings have consequences for the travel time budget literature as consistency of average travel time is found to be driven by work days, which are frequent and have stable travel times. This is offset by discretionary days as they tend to have longer travel times with greater variability but are fewer in number. |
| Keywords: | Travel Time Stability, Time Allocation, Discretionary Activities, Switching Model, Research Methods/ Statistical Methods, R4, R41, |
| Date: | 2016–07–31 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemet:243150&r=tre |