Household vehicle ownership analysis is an important and emerging topic in transportation research. Transportation researchers are interested in examining policy scenarios that can decrease the number of vehicles in a household fleet or encourage alternative transit. Many researchers have studied aspects of vehicle ownership and developed various aggregate and disaggregate models in different frameworks, including hazard-based duration models. Duration models can model the competing nature of vehicle transactions in a household and predict the timing of a change in vehicle ownership. Competing duration models are used to analyze the household vehicle ownership decision. Three vehicle transaction decisions (purchase, trade, and disposal of a vehicle) are considered. Dynamic variables that represent the state of the household and household location characteristics, an exogenous logsum variable representing maximum utility of vehicle class and vintage choice, and time-varying covariates (e.g., number of adults and household income) are considered in the model. Independent hazard models for each outcome and a competing hazard model are developed and compared.
Modeling Household Vehicle Transaction Behavior
Competing Risk Duration Approach
Transportation Research Record: Journal of the Transportation Research Board
2007-01-01
Article (Journal)
Electronic Resource
English
Modeling Household Vehicle Transaction Behavior: Competing Risk Duration Approach
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