The Impact of Demographics, Built Environment Attributes, Vehicle Characteristics, and Gasoline Prices on Household Vehicle Holdings and Use Chandra R. Bhat



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and , where is a dummy variable that takes a value of 1 if the lth make/model is chosen in vehicle type k (note that only one make/model can be chosen within a vehicle type), is a satiation factor that controls the use of each vehicle type k (see Bhat and Sen, 2006), and M is the exogenous total household annual mileage across all the k vehicle types (one of the “vehicle types” is assumed to be the non-motorized mode and hence the total household motorized annual mileage is endogenous to the formulation).3 Since the household is maximizing , and can choose only one make/model within vehicle type k, the implication is that the household will consider the make/model that provides maximum utility within each vehicle type k in the process of maximizing (given the functional form of ). Thus, the household’s utility maximizing problem of Equation (1) can be re-written as:


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