Structure of Public Transit Costs in the Presence of Multiple Serial Correlation

Details

• Creators:
  Karlaftis, Matthew ; McCarthy, Patrick ; Sinha, Kumares
• Subject/TRT Terms:
  • Transit operating agencies
  • Capital investments
  • Fleet management
  • Vehicle fleets
  • Correlation analysis
  • Indianapolis (Indiana)
  • Indianapolis Public Transit Corporation
  • Optimal size
  • Public transit policy
  • Transit fleets
• Series:
  Journal of Transportation and Statistics
• DOI:
  https://doi.org/10.21949/1501634
• Resource Type:
  Journal Article
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. Department of Transportation. Bureau of Transportation Statistics
• Abstract:
  Most studies indicate that public transit systems operate under increasing returns to capital stock utilization and are significantly overcapitalized. Existing flexible form time series analyses, however, fail to correct for serial correlation. In this paper, evidence is presented to show that ignoring multiple serial correlation can have important policy implications. Based on monthly time series data from the Indianapolis Public Transit Corporation, the results indicate that failure to correct for serial correlation significantly affects economies of capital utilization estimates and has potentially important implications for optimal size of the transit fleet.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/4674/dot_4674_DS1.pdf
• File Type:
  [PDF - 52.60 KB]
• Collection(s):
  BTS Products
• Main Document Checksum:
  urn:sha-512:2b1d8ad933cc77833937001847a4999447cc3c61f97d24727eaf9c4ebcdf3caeb0d5d4af74c310604b4d04b1434beef0642a96081041ad9cba357710db8569c2