Do Smart Growth Strategies Have a Role in Curbing Vehicle Miles Traveled? A Further Assessment Using Household Level Survey Data
This paper draws on McFadden’s location choice theory and incorporates households’ residential choice decisions as a hierarchical process in a structural travel demand model. The paper argues that such an approach can effectively tackle the problems of self-selection and multicollinearity. Contrary to previous findings, empirical results based on OLS and 3SLS reveal that travel demand is highly elastic to certain smart-growth features, if they are measured at different spatial scales. The results are robust against alternative sequencing of the hierarchical choice process. An analysis of the quantitative impact of a change in the smart-growth and fuel-tax policies reveals significant returns under both policies. Finally, a simulation based on California suggests that smart growth policies substantially reduce household travel demand.
Year of publication: |
2012
|
---|---|
Authors: | Sudip, Chattopadhyay ; Emily, Taylor |
Published in: |
The B.E. Journal of Economic Analysis & Policy. - De Gruyter, ISSN 1935-1682. - Vol. 12.2012, 1, p. 1-29
|
Publisher: |
De Gruyter |
Saved in:
Online Resource
Saved in favorites
Similar items by subject
-
Find similar items by using search terms and synonyms from our Thesaurus for Economics (STW).