The report documents work to update the frequency, mode-destination and car ownership models used version 3 of the Sydney Strategic Model (STM3) to reflect a 2011 base year instead of the 2006 base year used in the previous versions of the model. The update was not a full-scale re-estimation examining alternative model specifications, rather the intention was to minimise the changes relative to the 2006-base version of STM3. The report describes the changes that have been made to the models during this update. In addition to presenting analysis comparing the 2006-base and 2011-base model parameters, the report presents validation of the new mode-destination models in terms of implied values of time and model elasticities.
Table of Contents
Summary of changes
Validation of the MD models
Implementation of the car ownership models
Updates to cost data
Updates to taxi cost data
The research described in this report was conducted by RAND Europe.
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