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A new approach to calculate the value of leisure is developed and applied. This is derived from a consumer behaviour model that includes goods and activities. A system of time assignment equations is explicitly obtained from which the values of both leisure and work can be analytically calculated using econometrically estimated parameters. This framework is… (More)

- Kenneth A. Small, Wei Chen, +10 authors Kenneth Train
- 2005

This chapter presents essential methods developed in transportation economics and travel demand analysis, and describes how they are used to measure the economic value that consumers place on product characteristics. The chapter focuses primarily on discrete-choice models estimated using data on individual consumers. It develops such models from a random… (More)

- SERGIO R. JARA-DÍAZ, ANTONIO GSCHWENDER
- 2003

After Vickrey’s view, Mohring constructed a microeconomic model to determine the optimal frequency of buses serving a corridor with fixed demand. The main result was that frequency should be proportional to the square root of demand. The role of users’ costs was shown to be crucial. This approach has evolved over the past decades, improving our… (More)

- Leonardo J. Basso, Sergio Jara-Díaz
- Transportation Science
- 2006

It is customary to analyze transport industry structure using two indices: economies of density and economies of scale with variable network size (RTS). The latter has been defined to analyze the behavior of costs when output and network size expand simultaneously. After reviewing in detail what is intended with the calculation of RTS under this definition,… (More)

- Marcela Munizaga, Sergio Jara-Díaz, Paulina Greeven, Chandra Bhat
- Transportation Science
- 2008

This paper describes the derivation and the econometric calibration of a joint time assignment – mode choice model with a microeconomic foundation, to be applied to the TASTI (Time ASsignment Travel and Income) database. The econometric procedure is a full information maximum likelihood with three nonlinear continuous equations and one discrete choice. We… (More)

- Sergio R. Jara Diaz, Leonardo J. Basso, Sergio R. Jara-Díaz, William J. Baumol, Richard Spady, Douglas W. Caves
- 2003

It is customary to analyze transport industry structure using two indices: economies of density and economies of scale with variable network size (RTS). The first is calculated as the inverse of the sum of the product elasticities of cost, while the second adds the network elasticity. Here we analyze in detail what lies behind the concept of RTS. By taking… (More)

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