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Lookup NU author(s): Thomas Guerrero Barbosa, Professor Elisabetta Cherchi
This is the authors' accepted manuscript of an article that has been published in its final definitive form by Springer Nature, 2021.
For re-use rights please refer to the publisher's terms and conditions.
© 2020, Springer Science+Business Media, LLC, part of Springer Nature. Endogeneity is a potential anomaly in econometric models, which may cause inconsistent parameter estimates. Transport models are prone to this problem and applications that properly correct for it are scarce. This paper focuses on how to address this issue in the case of strategic urban mode choice models (i.e., the third stage of classic strategic transport models), possibly the main tool for the assessment of costly transport projects. To address this problem, we propose and validate, for the first time, adequate instruments that may be obtained from data that is already available in this context. The proposed method is implemented using the Control Function approach, which we use to detect and correct for endogeneity in a case study in Valparaiso, Chile. The effects arising from the neglected endogeneity in this case study reflect on an overestimation between 26–49% of the subjective value of time and an underestimation of 33–75% of modal elasticities.
Author(s): Guerrero TE, Guevara CA, Cherchi E, Ortuzar JD
Publication type: Article
Publication status: Published
Journal: Transportation
Year: 2021
Volume: 48
Pages: 2081-2102
Print publication date: 01/08/2021
Online publication date: 04/06/2020
Acceptance date: 02/04/2018
Date deposited: 12/08/2020
ISSN (print): 0049-4488
ISSN (electronic): 1572-9435
Publisher: Springer Nature
URL: https://doi.org/10.1007/s11116-020-10122-y
DOI: 10.1007/s11116-020-10122-y
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