MIT Professor Emeritus, Dept. of Economics and Center for Real Estate, Bill Wheaton, presented research at a Lunch and Learn last week. SA+P, DUSP and CRE students were invited to attend Prof. Wheatons talk entitled, “The IT-Energy-Transportation Revolution: Implications for Urban Form”. He discussed the various technology-based changes creating a transportation revolution and what it all means for Urban Form. See summary points below:
- EV’s are looming on the horizon promising green (solar powered) driving at fractions of the cost of petrol based vehicles.
- IT and AI Technology offer the promise of more hassle free ride-hailed robotic driving as well.
- Internet shopping is reducing the need to travel to shop. Delivery trumps driving.
- What has happened historically as technology provided cheaper and more convenient forms of travel?
- People travel more when its easier: an elasticity of travel demand.