Income and taste in mode choice models: Are they surrogates?
The microeconomic foundations of mode choice models postulate modal utilities which are additive in income; this actually makes choice independent of this variable. On the other hand, it has been argued that income is correlated with variables that reflect taste and therefore, has a place in the utility specification as a proxi for taste. In this paper we propose a framework based on a generalization of our expenditure rate approach in order to explore the presumptive relation between income and taste empirically. We use data from Santiago, Chile, and the results suggest that the use of income may not be adequate to identify taste differences.
Volume (Year): 25 (1991)
Issue (Month): 5 (October)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/548/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
When requesting a correction, please mention this item's handle: RePEc:eee:transb:v:25:y:1991:i:5:p:341-350. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.