Measuring unobserved prices using the structural time series model: the case of cycling

Alan Collins; David Broadstock

doi:10.1016/j.tra.2010.01.002

Measuring unobserved prices using the structural time series model: the case of cycling

Alan Collins, David Broadstock

Research output: Contribution to journal › Article › peer-review

Abstract

This study presents a means of determining a historic (generalised cost based) price index for cycling in the UK for the period 1949–2006 using annual demand data. By specifying demand as a function of generalised price and income and then applying a structural time-series model to elucidate the unobserved component of prices (while controlling for observed income levels), it is illustrated that the role of prices in influencing demand is non-trivial. Over the sample period price responses generally influence demand for cycling to a greater extent than income effects.

Original language	English
Pages (from-to)	195-200
Number of pages	6
Journal	Transportation Research Part A: Policy and Practice
Volume	44
Issue number	4
DOIs	https://doi.org/10.1016/j.tra.2010.01.002
Publication status	Published - 2010

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10.1016/j.tra.2010.01.002

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abstract = "This study presents a means of determining a historic (generalised cost based) price index for cycling in the UK for the period 1949–2006 using annual demand data. By specifying demand as a function of generalised price and income and then applying a structural time-series model to elucidate the unobserved component of prices (while controlling for observed income levels), it is illustrated that the role of prices in influencing demand is non-trivial. Over the sample period price responses generally influence demand for cycling to a greater extent than income effects.",

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AB - This study presents a means of determining a historic (generalised cost based) price index for cycling in the UK for the period 1949–2006 using annual demand data. By specifying demand as a function of generalised price and income and then applying a structural time-series model to elucidate the unobserved component of prices (while controlling for observed income levels), it is illustrated that the role of prices in influencing demand is non-trivial. Over the sample period price responses generally influence demand for cycling to a greater extent than income effects.

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DO - 10.1016/j.tra.2010.01.002

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Measuring unobserved prices using the structural time series model: the case of cycling

Abstract

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