TABLE 3 - Summary of Empirical Results

TABLE 3 - Summary of Empirical Results

500 Halton draws; 3,568 observations

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  Model 1: Full data Model 2: Account for relevance
Estimated parameter t-ratio Estimated parameter t-ratio
Mean random parameters        
Free flow time 0.0893 3.95 0.0451 2.14
Slowed down time −0.2449 −6.67 −0.0164 −0.64
Toll route constant 2.8599 5.47 2.2173 4.75
Standard deviation of random parameters        
Free flow time 0.1565 7.90 0.1303 6.99
Slowed down time 0.0360 2.81 0.1872 5.89
Toll route constant 5.0973 6.10 5.6430 6.90
Fixed parameters        
Running cost −0.4519 −11.21 −0.3781 −10.84
Toll cost −0.7733 −12.72 −0.6224 −11.95
Heterogeneity in the mean of random parameters: free flow time        
Lead to improved pedestrian safety 0.0016 2.84 0.0015 3.05
Heterogeneity in the mean of random parameters: slowed down time        
Provide better access to and from the city −0.0026 −2.64 −0.0031 −3.78
Lead to improved pedestrian safety −0.0017 −2.41 −0.0006 −0.94
Avoid traffic lights 0.0032 2.53 0.0034 2.72
Heterogeneity in the mean of random parameters: toll cost        
Provide better access to and from the city 0.0404 2.62 0.0133 0.96
Lead to improved pedestrian safety −0.0290 −2.73 −0.0095 −0.99
Avoid traffic lights 0.0648 4.02 0.0699 4.54
Heteroskedasticity in random parameters        
Free flow by trip kms −0.0056 −3.22 −0.0091 −3.66
Slowed down time by trip kms 0.0149 4.34 −0.0293 −3.84
Toll route constant by trip kms −0.0229 −8.03 −0.0270 −8.80
LL(B) −2,609.99 −2,609.99 −2,637.38 −2,637.38