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In economics, induced demand – related to latent demand and generated demand [1] – is the phenomenon whereby an increase in supply results in a decline in price and an increase in consumption. In other words, as a good or service becomes more readily available and mass produced, its price goes down and consumers are more likely to buy it ...
Induced demand; Marchetti's constant, a corollary of which is that decreasing congestion may increase the distance people are willing to commute and so increase the traffic burden; Lewis–Mogridge position; Jevons paradox, an increase in efficiency tends to increase (rather than decrease) the rate of consumption of that resource
Transportation demand management or travel demand management (TDM) is the application of strategies and policies to increase the efficiency of transportation systems, that reduce travel demand, or to redistribute this demand in space or in time.
It is generally referred to as induced demand in the transport literature, and was posited as the "Iron Law of Congestion" by Anthony Downs. [1] It is a special case of Jevons paradox (where the resource in question is traffic capacity), and relates to Marchetti's constant (average commute times are similar in widely varying conditions).
When traffic demand is great enough that the interaction between vehicles slows the traffic stream, this results in congestion. While congestion is a possibility for any mode of transportation , this article will focus on automobile congestion on public roads.
Induced demand; Intercontinental and transoceanic fixed links; ... Transportation demand management; Transportation Economic Development Impact System;
This picture illustrates a variety of transportation systems: public transportation; private vehicle road use; and rail. Transport economics is a branch of economics founded in 1959 by American economist John R. Meyer that deals with the allocation of resources within the transport sector. [1]
Braess's paradox is the observation that adding one or more roads to a road network can slow down overall traffic flow through it. The paradox was first discovered by Arthur Pigou in 1920, [1] and later named after the German mathematician Dietrich Braess in 1968.