Parameter estimation for the peak traffic model

In a previous article a model was developed for predicting the temporal distribution of peak traffic demand, and the model is sensitive to the determining cost parameters whose values were not known. These costs are the cost to late and early arrivals at work and the cost to delays in the system while travelling. In this paper, using the method of least squares, representative values for these cost parameters are estimated for both the Southbound and Northbound traffic using the Sydney Harbour Bridge during the morning peak period. The resulting estimates show that a traveller tends to attach much higher cost to delays than to earliness or lateness to work; although the relative cost he attaches to lateness is higher than he attaches to earliness.