Estimating Expected Price of Vehicles in a Transportation Microsimulation Modeling System
Publication: Journal of Transportation Engineering
Volume 128, Issue 6
Abstract
Microsimulation modeling is an emerging approach to activity-based travel forecasting. Household automobile-ownership models are being included in microsimulation travel-demand models more. Implicitly, vehicle price is an important attribute of vehicles in all automobile-ownership models. In order to update prices at each point of time within the simulation, a modeling tool is required to estimate the price of each vehicle at any time. This paper develops a hedonic price model to estimate the expected price of vehicles to be used in a comprehensive urban-transportation modeling system. In this study, the use of a linear hedonic price model was investigated in terms of its application to the market price of automobiles.
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Published In
Journal of Transportation Engineering
Volume 128 • Issue 6 • November 2002
Pages: 537 - 541
Copyright
Copyright © 2002 American Society of Civil Engineers.
History
Received: Mar 23, 2001
Accepted: Jan 31, 2002
Published online: Oct 15, 2002
Published in print: Nov 2002
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