I'm not sure there is actual elasticity here, despite Uber's claims. This is simply anecdotal, as a New Yorker on the UWS, getting downtown took upwards of 2 hours (instead of the usual 20) and the traffic was filled with numerous black cars. The real problem here is not the cars on the street, but more the capacity of the city. Great report on this here: http://www.npr.org/blogs/money/2012/07/31/157477611/does-new...