TABLE 3 - Summary of Empirical Results
TABLE 3 - Summary of Empirical Results
500 Halton draws; 3,568 observations
| 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 |