Do Smart Growth Strategies Have a Role in Curbing Vehicle Miles Traveled? A Further Assessment Using Household Level Survey Data

Chattopadhyay Sudip () and Taylor Emily ()
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Chattopadhyay Sudip: San Francisco State University
Taylor Emily: San Francisco State University

The B.E. Journal of Economic Analysis & Policy, 2012, vol. 12, issue 1, 29

Abstract: This paper draws on McFadden’s location choice theory and incorporates households’ residential choice decisions as a hierarchical process in a structural travel demand model. The paper argues that such an approach can effectively tackle the problems of self-selection and multicollinearity. Contrary to previous findings, empirical results based on OLS and 3SLS reveal that travel demand is highly elastic to certain smart-growth features, if they are measured at different spatial scales. The results are robust against alternative sequencing of the hierarchical choice process. An analysis of the quantitative impact of a change in the smart-growth and fuel-tax policies reveals significant returns under both policies. Finally, a simulation based on California suggests that smart growth policies substantially reduce household travel demand.

Keywords: transportation demand; land use policies; self-selection; multicollinearity; hierarchical choice theory; structural equations model; three stage least squares (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1515/1935-1682.3224

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