working paper

Comparison of Supply, Demand and Cost Models using UMTA Section 15 Data

Abstract

To assess the usefulness of the UMTA Section 15 transit data for research, econometric models estimated from previous data sets were replicated. Estimates were prepared for supply, demand and cost equations. Relationships were compared for magnitude, sign and significance. It was found that the 1978-79 Section 15 data can not be used to replicate previous studies. Incomplete returns together with the absence of variables reduce the value of the data set for research. Recommendations are made for improvement of Section 15.