Rail Transit Ticket Price Elasticity in Beijing Based on Reference-dependent Principle

Most current literatures judge loss aversion on the basis of the determined reference point,they ignore the heterogeneity of the reference point in some extent.The paper,tries a kind of reverse application,judges the reference point position according to the extent of loss aversion,and obtains expected rail transit ticket price for both of whole and different levels.Reference-dependent reflects the travelers’ expected ticket price and resulting metal feelings.Rail transit reference ticket price is multidimensional reference-dependent and comprehensively reflected in price dimension.Reference price has the characteristic of heterogeneity,loss aversion leads to the phenomenon of asymmetric ticket price elasticity,and the extent of asymmetric elasticity reaches maximum at wave crest of group reference price.Rail transit ticket price is related with a lot of factors such as travelers interests,rail transit firms interests,government financial burden,innercity transit models resources location,and intercity price fairness.Although rising Beijing subway basic ticket price standard is urgency,there is no large space due to travelers former ticket price dependency character.It’s necessity to reform the price system of integrated ticketing and formulate multiple tickets including metered fare,time sharing fare types and partition fare types.