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Objective Analysis. Effective Solutions.

The report documents work to update the frequency, mode-destination and car ownership models used version 3 of the Sydney Strategic Model (STM3) to reflect a 2011 base year instead of the 2006 base year used in the previous versions of the model. The update was not a full-scale re-estimation examining alternative model specifications, rather the intention was to minimise the changes relative to the 2006-base version of STM3. The report describes the changes that have been made to the models during this update. In addition to presenting analysis comparing the 2006-base and 2011-base model parameters, the report presents validation of the new mode-destination models in terms of implied values of time and model elasticities.

• Chapter One

  Introduction

• Chapter Two

  Summary of changes

• Chapter Three

  Model parameters

• Chapter Four

  Validation of the MD models

• Chapter Five

  Implementation of the car ownership models

• Chapter Six

  Summary

• Appendix A

  Updates to cost data

• Appendix B

  Updates to taxi cost data