Econometric Calibration of the Joint Time Assignment–Mode Choice Model

This paper discusses a joint time assignment–mode choice model that has a microeconomic foundation. The authors describe both the derivation and econometric calibration of this model, along with its application to the time assignment travel and income (TASTI) database. The methodology is based on Lee's transformation (Lee, L. F. 1983), which allows for generalized econometric models using selectivity. In this case, the model estimates values for: 1) time used as either a resource or as a value assigned to leisure activities, 2) time assigned to work, and 3) time assigned to travel. Reasonable results are obtained from the research that show a successful calibration of a novel time-assignment mode choice system capable of calculating for time values assigned to leisure, work, or travel. Moreover, a significant correlation is noted between time assignment and mode choice, which becomes pronounced when mode choice model is calibrated independently of the time assignment model. In such cases, assigning the subjective value of time to travel is underestimated by 60%. The authors conclude that their model can be applied to predicting time assignments within transportation systems, due to changes in travel time, travel cost, and other variables.

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  • Authors:
    • Munizaga, Marcela A
    • Jara-Diaz, Sergio R
    • Greeven, Paulina
    • Bhat, Chandra R
  • Publication Date: 2008-5

Language

  • English

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Filing Info

  • Accession Number: 01103724
  • Record Type: Publication
  • Files: TRIS, ATRI
  • Created Date: Jun 22 2008 6:14PM