A note on endogenous variables in household vehicle utilization equations |
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| Institution: | 1. Okayama Prefectural University Graduate School of Information Engineering;1. Jiangsu Key Laboratory of Urban ITS, Jiangsu Province Collaborative Innovation Center of Modern Urban Traffic Technologies, Southeast University, China\n;2. Department of Logistics & Maritime Studies, The Hong Kong Polytechnic University, Kowloon, Hong Kong |
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| Abstract: | This paper presents an empirical analysis of the statistical bias resulting from the endogeniety of vehicle specific attributes in econometric models of household vehicle utilization. Using data from a recent U.S. household survey, both corrected and uncorrected vehicle utilization models are estimated. A comparison of these estimation results reflects the substantial bias in model coefficients, price elasticities and income elasticities that can result if the endogeneity of vehicle specific attributes is not considered. |
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