Abstract:

Professor Jara-Diaz will provide a synthesis on his recent work on the role of trip distance on the optimal pricing of public transport services, the hidden hierarchies and substitutions behind the differences in the time assigned to work by gender, and the revealed preferences behind the reduced fare programs for students and elders.

Bio:

Sergio Jara-Diaz is Professor of Transport Economics at Universidad de Chile. He received his Ph.D. (1981) with a thesis in the field of Transport Economics, and a M.Sc. (1980) in Civil Engineering, both from the Massachusetts Institute of Technology. He is also M.Sc. (1977) in Urban Planning from U. Católica de Chile and Civil Engineer (1974) from U. de Chile. Dr. Jara-Diaz is a founding member of the Transport Division at U. de Chile. His research interests include user behaviour (travel time values, income effect); models of time use (values of leisure and work); industry structure on transport networks; strategic design of public transport; optimal pricing; and social appraisal of transport projects. He is the author of Transport Economic Theory (Elsevier, 2007) and acted as Deputy Director of the Institute for Complex Engineering

Systems (2007-2014) until he became the Provost of U. de Chile (2014-2016).

Description:

In cities with urban tolls, the price elasticity of demand is much larger when tolls are implemented than when tolls are raised. Similarly, some argue for fare-free on the grounds it would greatly raise ridership. This “Large Elasticity at Introduction” (LEI) is surprising, because no standard demand function has elasticity shrink with price. I formalize three explanations: transaction costs; the zero-price effect; and the idea that “price-sensitive users” get tolled off first. I propose an idea with broad equity implications: enacting even low tolls might alleviate a large share of the externalities that higher, optimal tolls do.

Bio:

Lewis Lehe is an assistant professor in the Department of Civil and Environmental Engineering at University of Illinois Urbana-Champaign. His Urban Traffic and Economics Lab focuses on the economics of travel in cities. He holds MS and PhD degrees in civil engineering from UC Berkeley, and an MA in Transport Economics from the University of Leeds. He is the creator of trafficvis.com, which hosts games to teach transportation engineering.

Paper citation:

Lehe, L. and Devunuri, S. (2021). “Large Elasticity at Introduction.” Research in Transportation Economics, (in press). https://doi.org/10.1016/j.retrec.2021.101116

Register to attend in-person

Register to attend via Zoom

___

The 2022 lecture will honor the accomplishments of Stephen H. Davis, Walter P. Murphy Professor Emeritus of Engineering Sciences and Applied Mathematics, who passed away at age 82 on November 12, 2021. Professor Davis's contributions to fluid mechanics and materials science are well known, and the event will celebrate his life and research.

The keynote lecture will be delivered by Grae Worster, professor of fluid dynamics at the University of Cambridge. Northwestern Engineering professors Michael J. Miksis and Peter W. Voorhees will also deliver remarks.

___

Grae Worster

Professor of Fluid Dynamics, Department of Applied Mathematics and Theoretical Physics, University of Cambridge

Worster's lecture, "The Dynamics of Super-absorbent Hydrogels," will outline how he and his colleagues developed a new mathematical approach to model super-absorbent hydrogels, allowing for strongly nonlinear swelling while remaining linear in deviatoric strains, in effect treating hydrogels as instantaneously incompressible and linear elastic materials. Worster will describe this model and illustrate its features by solving simple examples of swelling spheres and transpiration through cylinders, and by analyzing different instabilities that can arise during swelling and drying. Worster will also introduce a hypothesis for a potential role of hydrogels in pumping water up very tall trees.

Memorial Day (no classes)

The McCormick Dean’s Graduation Reception is open to engineering graduates, their families, and guests. Food and beverages will be served along with a champagne toast! The Dean and faculty will be present to celebrate with graduates.

All graduates and their guests are welcome. Registration is requested.

Related Info

Register Now

McCormick School of Engineering PhD Hooding and Master’s Degree Recognition Ceremony

Related Info

McCormick School of Engineering Undergraduate Convocation

Related Info