EQUILIBRATION PROPERTIES OF LOGIT MODELS

Despite the importance of supply-demand equilibration in travel-demand forecasting and urban planning, no attention has been paid to the equilibration properties of logit models of travel demand and residential mobility. The preponderance of logit models in travel demand and related fields suggests that these properties are worth examining if these models are to become useful forecasting tools. This paper demonstrates the basic price equilibration properties of logit models for simplified versions of six typical problems encountered in travel-demand and residential-location forecasting. Measures of the differential price of any two alternatives are derived in closed form and shown to reflect the well-known logit property of the independence from irrelevant alternatives as long as the population of travelers and households is one homogeneous group. It is shown that this property is lost when the population consists of several segments that have distinct preferences. In such cases closed-form solutions are not possible and numerical procedures are necessary. (Author)

Media Info

  • Media Type: Print
  • Features: References;
  • Pagination: pp 8-14
  • Monograph Title: Passenger travel forecasting
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00310696
  • Record Type: Publication
  • ISBN: 0309029813
  • Files: TRIS, TRB
  • Created Date: May 21 1980 12:00AM