Andersen, L.B., et al., 2000, All-cause mortality associated with physical activity during leisure time, work, sports, and cycling to work, Archives of Internal Medicine, 160(11): p. 1621-1628.
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This highly regarded Danish study assessed the health status of 30,000 people over a 14 year period to measure the health benefits of cycling. The researchers found that, with all other factors being equal, simply cycling to work lowered the risk of death by 40%.