, Volume 21, Issue 2, pp 153-165

Correcting state dependence and serial correlation in the RP/SP combined estimation method

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Abstract

Revealed preference (RP) data and stated preference (SP) data have complementary characteristics for model estimation. To enhance the advantages of both data types, a combined estimation method is proposed. This paper discusses the method and practical considerations in applying it, and introduces a new method of considering serial correlation of RP and SP data. An empirical analysis is also presented.