Revisiting the Empirical Foundations for Measuring The Capitalization of Access to Transit
There remains little consensus as to the valuation of access to light rail. Indeed, the literature on access includes a wide variety of estimates of access capitalization into surrounding land and property values. While the modal results seems to point to modest benefits to proximity to rail stations, several recent papers suggest these papers may, in fact, be reporting net benefits to a bundle of spatial amenities and disamenities spatially correlated with the stations. A distinct and significantly more nettlesome problem was addressed in METRANS project 04-18. While this research documented the instability and provided some evidence as to its source, the solution it proposed left several questions unanswered. With regards to the technical aspects of the non-parametric approach, the project provided little guidance as to formal hypothesis testing. Furthermore, it suggested that only data from before and after the provision of rail services could provide clean identification of the value of access, implying that much of the existing network of freeways, bus lines, and rail lines were beyond analysis. In light of feedback the previous research has generated, it appears that both of these weaknesses can be addressed. The first part of the proposed research would formalize the statistical basis for non-parametric analysis of capitalization. This is an essential element of gaining acceptance in a field dominated by the (demonstrably unstable) hedonic regression. The second part would employ a formalized non-parametric approach to assess both rail and highway access capitalization in the Los Angeles Metropolitan area.
Language
- English
Project
- Status: Active
- Funding: $42395.00
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Contract Numbers:
08-07
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Sponsor Organizations:
National Center for Metropolitan Transportation Research
University of Southern California
650 Childs Way, RGL 107
Los Angeles, CA United States 90089-0626 -
Project Managers:
Valentine, Victoria
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Performing Organizations:
University of Southern California, Los Angeles
University Park Campus
Los Angeles, CA United States 90089 -
Principal Investigators:
Redfearn, Christian
- Start Date: 20070901
- Expected Completion Date: 0
- Actual Completion Date: 0
- Source Data: RiP Project 26548
Subject/Index Terms
- TRT Terms: Accessibility; Bus transit operations; Bus transportation; Empirical methods; Light rail transit; Light rail vehicles; Nonparametric analysis; Public transit; Ridership; Transit operating agencies
- Geographic Terms: Los Angeles (California)
- Subject Areas: Passenger Transportation; Planning and Forecasting; Railroads; Terminals and Facilities;
Filing Info
- Accession Number: 01461384
- Record Type: Research project
- Source Agency: National Center for Metropolitan Transportation Research
- Contract Numbers: 08-07
- Files: UTC, RiP
- Created Date: Jan 3 2013 1:45PM