Thanks, very interesting. The term ‘induced demand’ has been used a lot in the urban transit & housing discourse. Occasionally you will see the term hijacked by NIMBYs who argue against new housing by claiming construction only serves to create more demand for housing. Or people will argue against widening highways because it will only and always just create ‘induced demand’. A more precise way of thinking about the problem is that a market will pay up to Y amount of time to get from point A to point B. It may be impossible to meet the total demand in this market at time Y with low-efficiency car transit, but a mass transit train system could saturate and address the entire market demand at price point time Y. That is, thinking more precisely about the problem can help inform policy choices.