Integrated (simultaneous) Demand‐Supply Model Sample Clauses

Integrated (simultaneous) Demand‐Supply Model. The underlying assumption for integrated models is that transit ridership and level of service have mutual feedback effects on one another. In other words, while transit ridership is affected by level of service attributes (e.g. headway, frequency, work hours, amenities, etc.), it is also reasonable to assume that transit ridership on the route will impose changes on the level of service decisions (e.g. total hourly route capacity). Theoretically, this is referred to as the endogeneity (simultaneity) effect, where specific variables are used on both sides (dependent and independent) of the equations. In general, integrated demand supply models mainly consist of two core equations: • Demand equation: This is a route/stop level demand model (similar to TBEST). The dependent variable is usually number of boarding in a particular stop on the route of interest and the explanatory variables include socioeconomics, demographics, and certain instances of supply attributes on the route of interest (such as capacity, headway, etc.). • Supply equation: The supply variable used on the right-hand side of the demand model is now shifted to the left-hand side (as the dependent variable) and is explained by a number of socio-demographic variables, transit ridership, and other stop/route attributes. The major advantage of integrated demand-supply models is that they provide estimates of key supply attributes (i.e. frequency, headway, or total number of seats) needed to serve the demand.
Sample 1
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Related to Integrated (simultaneous) Demand‐Supply Model

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