TRB Pubsindex
Text Size:
x

« Prev Next »

Return to Results | New Search

Bookmark and Share

Title:

Incorporating Product Choice into Transit Fare Policy Scenario Models

Accession Number:

01702414

Record Type:

Component

Availability:

Find a library where document is available


Order URL: http://worldcat.org/issn/03611981

Abstract:

Customer fare product choices can affect both ridership and revenue, so they are strategically important for transit agencies. Nearly all major agencies offer choices between pay-per-use and pass products, and with each potential fare change, agencies face decisions about whether to modify pass “multiples”—the number of rides needed to “break even” on a pass purchase. However, the simple elasticity spreadsheet models often used to analyze the potential ridership and revenue impacts of fare changes make little or no adjustment for shifts in fare product choices. This paper reviews different options for incorporating product choice into fare policy scenario models, and it presents a ridership and revenue prediction procedure that combines a multinomial logit fare product choice model with the logic of an elasticity spreadsheet model. This combination facilitates evaluation of complex fare changes that are likely to alter fare product market shares while maintaining much of the flexibility and simplicity of a traditional spreadsheet model. Additionally, the proposed model uses only preexisting, revealed-preference automated fare collection data rather than requiring customer surveys. The proposed model is demonstrated using examples at the Chicago Transit Authority (CTA). The CTA experienced a large shift from passes to pay-per-use following a fare change in 2013, illustrating the potential value of accounting for fare product choices in fare scenario evaluation.

Report/Paper Numbers:

19-06071

Language:

English

Authors:

Stuntz, Andrew
Attanucci, John
Salvucci, Frederick P

Pagination:

pp 209-220

Publication Date:

2019-8

Serial:

Transportation Research Record: Journal of the Transportation Research Board

Volume: 2673
Issue Number: 8
Publisher: Sage Publications, Incorporated
ISSN: 0361-1981
EISSN: 2169-4052
Serial URL: http://journals.sagepub.com/home/trr

Media Type:

Digital/other

Features:

Figures (8) ; References (21) ; Tables (1)

Identifier Terms:

Chicago Transit Authority

Geographic Terms:

Chicago (Illinois)

Subject Areas:

Data and Information Technology; Finance; Planning and Forecasting; Policy; Public Transportation

Files:

TRIS, TRB, ATRI

Created Date:

Mar 18 2019 3:36PM