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STM3 2011 base frequency, mode-destination and car ownership models

by James Fox, Bhanu Patruni

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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

  • Chapter One

    Introduction

  • Chapter Two

    Summary of changes

  • Chapter Three

    Model parameters

  • Chapter Four

    Validation of the MD models

  • Chapter Five

    Implementation of the car ownership models

  • Chapter Six

    Summary

  • Appendix A

    Updates to cost data

  • Appendix B

    Updates to taxi cost data

Research conducted by

The research described in this report was conducted by RAND Europe.

This report is part of the RAND Corporation research report series. RAND reports present research findings and objective analysis that address the challenges facing the public and private sectors. All RAND reports undergo rigorous peer review to ensure high standards for research quality and objectivity.

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